10 February 2022, Mumbai:
Nykaa’s consolidated net profit in December quarter declined 59 per cent to Rs 28 crore from Rs 69 crore posted in corresponding quarter previous fiscal.
The company’s profit after tax more than doubled from Rs 12 crore reported in the previous September quarter. Revenue from operations rose 36 per cent to Rs 1,098 crore in the reporting quarter as compared to Rs 808 crore in the corresponding quarter of last year.
The beauty company's expenses soared 47 per cent to Rs 1,067 crore during the December quarter when compared to Rs 727 crore in the year-ago period.
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The consolidated GMV (gross merchandise value) grew 26 per cent sequentially and 49 per cent year-on-year to Rs 2,043 crore in the third quarter, supported by strong operational metrics.
Growth in beauty business accelerated in a relatively normalized COVID environment, with a strong revival in the cosmetics category.
Nykaa experienced one of its strongest quarters ever as it continued opening new stores in line with larger omnichannel vision.
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*Figures mentioned in the above article have been sourced from ET article.
