Nykaa on February 13 reported a consolidated net profit of Rs 8.5 crore for the quarter ended December 2022 (Q3FY23) as against Rs 29 crore a year ago, declining 71 percent on a YoY basis. It grew 63 percent sequentially.
Revenue from operations came in at Rs 1,463 crore, up 33 percent from Rs 1,098 crore in the December 2021 quarter, Nykaa said in an exchange filing. Revenue stood at Rs 1,231 crore for the September 2022 quarter.
Expenses for the quarter increased 36 percent YoY to Rs 1,455 crore in Q3FY23 as compared to Rs 1,067 crore reported in the corresponding quarter a year ago.
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Q3 FY23 EBITDA stood at Rs 78 crore, up 13 percent year-on-year (YoY) basis while EBITDA margin came in at 5.3 percent.
The gross profit for the October-December period grew 25 percent YoY to Rs 635 crore.
Total GMV (gross merchandise value) grew 37 percent YoY to Rs 2,797 crore. According to the filing, Nykaa's Beauty and Personal Care GMV grew by 26 per cent year-on-year to reach Rs 1,901 crore, while Fashion GMV grew by 50 percent y-o-y to reach Rs 724 crore.
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Fashion GMV contribution to consolidated GMV increased to 26 percent compared to 25 percent in Q3FY22.
The monthly average unique visitors increased to 24 million with y-o-y growth of 22 percent in the Beauty and Personal Care vertical and to 19 million with y-o-y growth of 18 percent in the Fashion vertical.
Annual unique transacting customers reached 9.6 million with y-o-y growth of 27 percent in the Beauty and Personal Care vertical, and 2.4 million with 50 percent y-o-y growth in the Fashion vertical.
Commenting on the performance Nykaa Executive Chairperson, MD and CEO Falguni Nayar said, "The business has delivered consistent strong GMV and revenue growth at 37 percent YoY and 33 percent YoY, respectively. The performance has been especially good given the backdrop of eight fewer festive days in Q3FY23, compared to Q3FY22."
"Our EBITDA delivery has been strong, with scale efficiencies in fulfilment and marketing expense. There's been a structural improvement in fulfilment expense as we move to regional warehouses. Our marketing efforts are focused on order-conversion ratio, rather than chasing visits alone, which is reflective of the highest ever conversions of 3.8% in BPC, and 1.2% for Fashion in Q3FY23. Our employee benefit expense has been kept in check post 1HFY23, as we have secured the talent we needed, and look towards enhanced productivity," she added.
On February 13, shares of Nykaa closed 2.68 percent down on the NSE at Rs 150.55 apiece.
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