MUMBAI: FSN E-Commerce, the parent company of Nykaa, on Monday announced 71% decline in net profit to Rs 8.5 crore for the quarter ending December 2022 as against Rs 29 crore in the same quarter in the previous year.
Revenue from operations came in at Rs 1,463 crore, up 33% from Rs 1,098 crore in the December 2021 quarter, Nykaa said in an exchange filing. Revenue stood at Rs 1,231 crore for the September 2022 quarter. Expenses for the quarter increased 36% YoY to Rs 1,455 crore in Q3FY23 as compared to Rs 1,067 crore reported in the corresponding quarter a year ago.
Company’s EBITDA (earnings before interest, tax, depreciation and amortisation) grew 13% to Rs 78 crore for the December quarter while EBITDA margin came in at 5.3% for the October-December period, as against 6.3% for the year-ago period.
The consolidated gross merchandise value (GMV) during the quarter grew 37% YoY to Rs 2,796 crore.
“Our EBITDA delivery has been strong, with scale efficiencies in fulfilment and marketing expense. There’s been a structural improvement in fulfilment expense as we move to regional warehouses.
Our marketing efforts are focussed on order-conversion ratio, rather than chasing visits alone, which is reflective of the highest ever conversions of 3.8% in BPC, and 1.2% for Fashion in Q3FY23,” said Falguni Nayar, Executive Chairperson, MD, and CEO Nykaa.