FSN E-Commerce Ventures Limited, operator of the Nykaa e-commerce website, said its fourth quarter revenue -- or net sales value -- is likely to have risen by the high 20s (27%-29%).
Overall revenue, or gross merchandise value, is likely to have grown in the early 30s, the company added.
The smaller divisions of the company grew the fastest, while the mainstay businesses -- beauty and garments -- both saw gross merchandise value growth in the mid-twenties.
For the smaller units, such as its business-to-business operations, GMV growth during the quarter is estimated at around 65% or mid-sixties, the company said.
On its beauty business, the company said strong growth in customer acquisition, platform conversion and users.
"This has resulted in a healthy order volume growth, reflecting robust customer demand," it said, adding that strong demand was seen in categories such as makeup and skin.
The results are in line with overall trends in India's consumer market that has seen strong growth in products consumed by upper middle class and affluent sections of the society in the last five quarters or so.
Nykaa, primarily a beauty products retailer, listed on the Indian stock exchanges in November 2021. It later expanded beyond beauty to include lifestyle and B2B segments through platforms such as Nykaa Fashion, Nykaa Man, and Superstore.
Nykaa has also strengthened its offline presence, with 174 stores across India as of December 31, 2023.
Nykaa shareholders have had a wild ride since the company's IPO in Nov 2021. The shares, which were issued at Rs 187.25 (adjusted for split), nearly doubled on its first day of trade. However, by April last year, the share price fell to around Rs 120. As of 1014 IST, the company's shares were being traded up 2% at Rs 172.10.