14 August 2023, Mumbai
Strong Revenue Growth Despite Discretionary Spending Slowdown
- Revenue: Nykaa's revenue grew 23.8% YoY to 14.22 billion rupees ($172 million) in Q1.
- Signature Sale: The company's signature 'Pink Summer Sale' was a major driver of growth, with orders up 17%.
- Beauty and Personal Care (BPC) Segment: Nykaa's BPC segment, its primary revenue source, continued to perform well, with a 17% increase in orders.
- Gross Merchandise Value (GMV): Overall GMV surged 24% to 26.68 billion rupees.
- Fashion Domain: The fashion domain saw a more modest 12% GMV gain, but still accounted for nearly 30% of total GMV.
- Pre-tax Profit: Nykaa's pre-tax profit climbed 16.5% YoY to 97.2 million rupees.
- Executive Departures: The company faced some challenges in Q1, including executive departures and inflation concerns.
Despite these challenges, Nykaa delivered strong revenue growth in Q1.
The company's signature 'Pink Summer Sale' was a major driver of growth, and the BPC segment continued to perform well. Nykaa's pre-tax profit also climbed 16.5% YoY.
Overall, Nykaa's Q1 earnings were robust, and the company is well-positioned for continued growth in the coming quarters.
