Nykaa operator FSN E-Commerce Ventures on August 5 reported a 42.24 percent year-on-year increase in consolidated profit at Rs 5.01 crore for the quarter ended June 2022, aided by better topline and operating performance of the cosmetics-to-fashion retailer.
Profit in corresponding period of the last fiscal was Rs 3.52 crore.
Consolidated revenue from operations for the June FY23 quarter came in at Rs 1,148.4 crore, registering a 40.56 percent growth compared to same period last year.
The consolidated gross merchandise value (GMV) has been quite strong, and has grown 47 percent year-on-year to Rs 2,155.8 crore for the quarter ended June FY23, FSN said in its BSE filing.
The GMV of beauty and personal care segment grew 39 percent YoY to Rs 1,488.8 crore, and fashion segment registered 59 percent YoY growth in GMV at Rs 582 crore in Q1FY23.
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Nykaa also recorded strong performance on operating front in Q1FY23 as EBITDA grew by 71 percent year-on-year to Rs 46.05 crore and margin expanded by 71 bps YoY to 4 percent compared to corresponding period last fiscal, led by improvement in gross margin and efficiency in fulfilment expense.
During the quarter, "we continued to grow strongly overall with improvement in gross margin and efficiency in fulfilment expense leading to improvement in overall EBITDA margin YoY," Nykaa said.
The gross profit grew 54 percent YoY to Rs 509.9 crore during the quarter ended FY23. Gross margin as a percentage of revenue increased to 44.4 percent in Q1FY23, against 40.6 percent in Q1FY22.
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Meanwhile, FSN has acquired 100 percent stake in Iluminar Media Private Limited, which is known as Little Black Book involved in the business of running and operating a digital platform.
The acquisition will help the company to strengthen its content delivery, drive discovery for brands and make shopping experience more engaging for the customers. The said transaction is expected to be completed within 60 days of execution.
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