FSN E-Commerce Ventures Ltd, the operator of beauty and fashion platform Nykaa, reported a sharp improvement in profitability for the December quarter, with net profit attributable to equity holders surging 143 percent year-on-year to Rs 63.3 crore in Q3 FY26. The company had posted a net profit of Rs 26.1 crore in the corresponding quarter last year, according to its unaudited financial results.
Revenue from operations rose 26.7 percent on-year to Rs 2,873.26 crore in the quarter ended December 31, 2025, compared with Rs 2,267.21 crore in Q3 FY25, reflecting continued growth across its core businesses. Total income for the quarter stood at Rs 2,879.52 crore, up from Rs 2,272.74 crore a year earlier.
On the cost side, total expenses increased to Rs 2,753.54 crore from Rs 2,228.18 crore in the year-ago period. Purchase of traded goods rose to Rs 1,504.77 crore from Rs 1,284.96 crore, while employee benefits expense increased to Rs 202.90 crore from Rs 174.60 crore.
Despite higher costs, profit before tax improved sharply to Rs 109.62 crore in Q3 FY26, compared with Rs 44.56 crore a year earlier. The quarter also included exceptional items of Rs 16.36 crore. Total tax expense stood at Rs 41.88 crore, resulting in a net profit after tax of Rs 67.74 crore. After accounting for non-controlling interests, profit attributable to equity shareholders came in at Rs 63.31 crore.
Earnings per share for the quarter stood at Rs 0.22 on both a basic and diluted basis, compared with Rs 0.09 in the same period last year.
Nykaa said it delivered its highest-ever quarterly GMV in Q3 FY26, with consolidated GMV rising 28 percent on-year to Rs 5,795 crore. The company said the quarter’s performance was driven by robust growth in the Beauty segment and an acceleration in Fashion, together resulting in mid-20s net sales value (NSV) growth across verticals.
The company also reported a sharp improvement in operating profitability during the quarter. EBITDA grew 63 percent on-year to Rs 230 crore, with EBITDA margin expanding to 8.0 percent in Q3 FY26 from 6.2 percent in Q3 FY25. Nykaa said gross profit rose 31 percent year-on-year to Rs 1,297 crore in the quarter.
Nykaa said its Beauty vertical delivered its largest quarter to date, with GMV rising 27 percent year-on-year to Rs 4,302 crore, supported by momentum across e-commerce, physical retail, and its owned brands under the House of Nykaa.
On customer metrics, Nykaa said its cumulative Beauty customer base stood at over 42 million as of Q3 FY26, reflecting a 30 percent year-on-year increase. The company added that its overall customer base across platforms crossed 52 million, up 31 percent on-year.
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