Post Q2 Earnings, Nykaa Plummets Almost 6% in Early Trade; PAT Declines 96%

  • by THO
  • 2 weeks ago
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By Malvika Gurung — The FSN E-Commerce Ventures Ltd (NS:) owned beauty and fashion platform Nykaa reported its earnings for the September-ending quarter on Sunday, with its revenues from operations growing 47% YoY to Rs 885.3 crore, while profit after tax declining 96% YoY and 69% sequentially to Rs 1.2 crore.

The company’s shares opened declining 5.8% to Rs 2,222.6 at 9:17 am, after reporting its earnings result on Sunday.

The newly-listed company’s Gross Merchandise Value (GMV), a measure for the volume of goods sold on its platform, stood at Rs 1,622.9 crore for Q2 FY22, rising 62.7% on a YoY basis, while Nykaa’s GMV incremented by 38% YoY to reach Rs 1,186 crore, of which its fashion segment’s figure rose by a whopping 215% YoY to Rs 437 crore. 

While the e-tailer’s revenue for H1FY22 appreciated by 91% to Rs 1,702.3 crore, its consolidated net profit declined 96% to Rs 1.2 crore for the September quarter. Its EBITDA declined 48% YoY, while the EBITDA margin declined 5.8% or 585 bps for the period.

However, the company reported a positive gross profit margin at 42.7%, up 345 bps YoY and 213 bps sequentially, driven by an increase in the GMV from owned brands and the fashion segment.

The company’s fashion business has boosted its revenues, as it grew by 295% YoY to Rs 11.5 crore, and its beauty business grew 29% YoY to Rs 22 crore.

For the quarter in focus, Nykaa’s average unique visitors for the month grew 62% YoY to 21 million for the beauty segment and by 328% to 16 million visitors for the fashion segment.

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