To be sure, the festive season has kicked in, but in its October-December quarter, the consolidated net profit of online beauty and fashion e-commerce major Nykaa clocked a fall of almost 5 per cent to Rs 12.97 crore (quarter-on-quarter) with an onset of the festive quarter, according to its financials Tuesday.
The net profit in Q2 FY25 for the company stood at Rs 13.64 crore reported in the preceding June quarter, as per the company's financials with the stock exchange.
Revenue from operations grew by 24 per cent on a quarter-on-quarter basis to Rs 1,874.74 crore in Q2 FY25 from Rs 1,746.11 crore in Q1 this fiscal, as per the numbers unveiled by the Nykaa parent FSN E-Commerce Ventures Limited led by Falguni Nayar.
Total expenses stood at Rs 1,858.93 crore, growing 23.7 per cent from the same period last year and 7.3 percent on a QoQ basis.
In the same period, consolidated gross merchandise value or GMV grew 24 per cent on a YoY basis to Rs 3,652 crore.
The beauty vertical continued growing at 29 per cent GMV growth, to Rs 2,783 crore in Q2, on the back of new customer acquisition growth of 31 percent.
Nykaa Fashion revenue grew 22% but GMV rose 10% year-on-year.
It runs the largest beauty retail network, at 210 physical stores across 72 cities.
There was 25 per cent YoY growth in retail space, including two new flagship stores that were launched in Mumbai and Delhi, the company added.
On the distribution front, Nykaa's Superstore witnessed strong GMV growth at 80 per cent YoY as operations continue to expand pan-India.
India is set to become one of the world's most influential markets for beauty and personal care, soaring higher than China, the US, Japan, and South Korea according to the latest report by Nykaa.
According to an online beauty and fashion marketplace, India will be crossing 10-11 per cent growth by 2028 and reaching the $34 billion in the beauty and personal care market.
Read also| Ola Electric's Net Loss Jumps 43% in Q2, Revenue Drops 26%
