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HomeTechNykaa’s consolidated net profit falls 57.65% YoY in Q4

Nykaa’s consolidated net profit falls 57.65% YoY in Q4

Mumbai: FSN E-Commerce Ventures, the parent company of omnichannel beauty retailer , reported a 57.65% drop in its consolidated net profit to Rs 7.5 crore for the fourth quarter that ended March 31, 2022, from Rs 17.9 crore in the same quarter last year.

For FY22, the company turned in a profit after tax of Rs 56 lakh as against a loss of Rs 2.18 crore in the previous fiscal, the company’s financials showed.

On a sequential basis, the Mumbai-based firm’s total income dropped to Rs 984.4 crore for the fourth quarter from Rs 1104.2 crore in the previous quarter. For the full 12 months, income grew 54% to Rs 3,800.9 crore from Rs 2,452.6 crore for FY21.

The company, which had a bumper listing in November 2021, saw its gross merchandise value grow to Rs 6,933.2 crore, 71% up from last year.

“All our verticals are growing well. The three main categories of makeup, skincare and haircare are growing at 40%, 50%, 60% year on year,” said Anchit Nayar, chief executive, beauty ecommerce, Nykaa. “The core businesses are growing at a healthy clip, despite the broader challenges,” he added.

The beauty and personal care segment clocked a gross merchandise value of around Rs 4998.7 crore, a 49% growth year on year, he added.

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On how Ebitda and profit remained under pressure, Falguni Nayar, cofounder and CEO of Nykaa, said, “It was a conscious decision to choose long-term growth over short-term profitability. We have made investments across our fashion and BPC segment which has put the Ebitda under pressure, but we are confident of these verticals adding to the overall growth in coming quarters,” she added.

The company’s fashion vertical saw GMV grow to Rs 1,700 crore, clocking a 168% increase in FY22. “On a consolidated basis, fashion has gone from being 16% of the total GMV to 25% of GMV now,” said Nayar.

The company acquired and invested in beauty and personal care brands such as Earth Rhythm, Nudge Wellness and Kica last month.

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