BENGALURU: Online fashion retailer Nykaa on Wednesday reported a 188% jump in net profit to Rs 6.9 crore for March quarter compared to Rs 2.4 crore in the year-ago period.
Revenue from operations in Q4 stood at Rs 1,668 crore, up 28% compared to Q4FY23. Consolidated GMV (gross merchandise value) in March quarter grew 32% YoY to Rs 3,217 crore.
EBITDA margin stood at 5.6% and EBITDA margin adjusted for ESOP expenses, new business (GCC operations) and corporate restructuring expenses expanded to 6.7% for the quarter compared to 5.5% a year ago. Nykaa Beauty business crossed $1 billion GMV in FY24, a rise of 25% YoY.
Nykaa Fashion GMV saw growth of 27% YoY in FY24 and a growth of 27% YoY in Q4 FY24. The company’s board has approved group business restructuring initiatives towards bringing operational synergies by streamlining business operations across entities.It has also approved an investment of Rs 20 crore in FSN International, a wholly-owned subsidiary of the company.
Nykaa brands in FY24 have crossed Rs 1,500 crore, constituting a significantly scaled business across mature, mid-size and up & coming brands in Beauty and Fashion, the company said.