FSN E-Commerce Ventures reports robust financial results in Q2, FY26
08 November 2025, Mumbai
Parent company of the popular fashion and beauty retailer Nykaa, FSN E-Commerce Ventures reported robust financial results in Q2, FY26 that ended in September 2025. The company posted a net profit of Rs 34.4 crore, marking a staggering 244 per cent Y-o-Y increase from the Rs 10 crore recorded in the same period last year.
The company’s revenue from operations increased by 25.1 per cent Y-o-Y to Rs 2,346 crore from Rs 1,875 crore in the prior year's second quarter. This strong performance was fueled by momentum in the beauty segment and a noticeable revival in the fashion business. Profitability also strengthened, with Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) rising 53 per cent to Rs 158.5 crore. Consequently, the EBITDA margin expanded to 6.7 per cent from 5.5 per cent a year ago.
Nykaa’s consolidated Gross Merchandise Value (GMV) hit Rs 4,744 crore for the quarter, a 30 per cent Y-o-Y jump. Gross profit grew by 28 per cent to Rs 1,054 crore, achieving the company's highest gross margin in the last 12 quarters and marking the twelfth consecutive quarter of mid-20s percentage revenue growth.
Nykaa expanded its retail footprint significantly, adding 19 new stores across nine new cities and reaching a total of 265 beauty stores across 90 cities. The cumulative beauty customer base grew 31 per cent Y-o-Y to approximately 40 million.
The in-house lingerie brand, Nykd, achieved an annualized GMV run rate of Rs 175 crore, growing approximately 30 per cent Y-o-Y.
Nykaa Fashion showed a strong recovery from the previous quarter, delivering 37 per cent Y-o-Y GMV growth to Rs 1,180 crore. The unit’s financial health improved dramatically, with the EBITDA margin (as a percentage of Net Sales Value) moving from a negative 9% in Q2 FY2025 to a much-improved negative 3.5 per cent in Q2 FY2026, signaling progress toward its breakeven goal. Customer traction remained high, with monthly active unique visitors and orders both increasing by 30 per cent or more.
Overall, Nykaa demonstrated strengthened profitability supported by an increased share of House of Nykaa brands and enhanced scale efficiencies.
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