Indian beauty products retailer Nykaa’s consolidated net profit nearly halved in the fourth quarter of March 2022 (Q4FY22) period. The firm’s net profit to shareholders stood at ₹8.56 crore in Q4FY22 down by 49.2% from ₹16.88 crore in the same quarter last year.
The PAT also declined from ₹27.93 crore in the preceding quarter.
On the other hand, consolidated revenue from operations stood at ₹973.32 crore in Q4FY22 rising by 31.4% from ₹740.52 crore in Q4 of last year. However, revenue declined compared to ₹1,098.36 crore in Q3FY22.
The earnings were impacted due to a steep surge in expenses amidst dull demand for its personal care and fashion products.
Consolidated total expenses in Q4FY22 increased over 35% to ₹978.64 crore against ₹724.50 crore in the same period of the previous fiscal.
On BSE, Nykaa closed at ₹1351.80 apiece down by ₹12.65 or 0.93%. At the current stock price, the market cap stood at ₹64,103.04 crore.
Nykaa will be in focus on stock exchanges next week following its quarterly earnings.