Nykaa, India’s leading beauty and fashion e-commerce retailer, reported a 22% year-on-year (YoY) growth in revenue from operations to Rs 1,507 crore in the second quarter of fiscal year 2023-24 (Q2FY24). The company’s net profit also jumped 50% YoY to Rs 7.8 crore in the same period.
The healthy revenue growth was driven by strong demand across all categories, including beauty, fashion, and personal care. Nykaa’s fashion business, in particular, saw strong growth, with revenue increasing 28% YoY to Rs 130.5 crore in Q2FY24.
The company’s EBITDA margin also expanded to 5.4% in Q2FY24, up from 5% in the same period last year. This was driven by a combination of factors, including higher gross margins and cost efficiencies.
Nykaa is well-positioned to benefit from the continued growth of the Indian beauty and fashion market. The company has a strong brand, a large and loyal customer base, and a wide range of products and services.
Key Highlights from Nykaa’s Q2FY24 Results:
- Revenue from operations up 22% YoY to Rs 1,507 crore
- Net profit up 50% YoY to Rs 7.8 crore
- EBITDA margin expands to 5.4%
- Fashion business sees strong growth, with revenue up 28% YoY to Rs 130.5 crore
Nykaa’s Growth Plans:
Nykaa is planning to invest heavily in its growth in the coming years. The company plans to expand its reach to more cities and towns, increase its product offerings, and invest in its marketing and technology capabilities.
Nykaa is also planning to launch new brands and categories in the near future. The company is also looking to expand its international presence.
Nykaa is a well-managed company with a strong growth track record. The company is well-positioned to benefit from the continued growth of the Indian beauty and fashion market. Investors should keep an eye on Nykaa as it continues to grow and expand its business.