FSN E-Commerce Ventures Ltd, the parent company of beauty and fashion platform Nykaa on Sunday announced that the company along with its subsidiaries is expected to post a revenue growth of around 22-23 per cent on-year during the first quarter of FY25. The consolidated GMV (Gross Merchandise Value) growth is projected to be in mid-twenties on YoY basis.
Starting this quarter, Nykaa will commence vertical-wise segmental reporting, wherein the Beauty segment will comprise of online beauty platform Nykaa, beauty owned brands, physical stores, additionally including its eB2B distribution business ‘Superstore by Nykaa’, and the Nykaa Man BPC business. And it’s Fashion segment will consist of the Nykaa Fashion platform, and fashion owned brands, additionally including LBB, the company’s content platform and the Nykaa Man lifestyle business.
Per its Q1 update released today, the company’s Beauty vertical is expected to post a revenue growth of around 22-23 per cent on-year during the first quarter, similar to the consolidated entity’s revenue growth. GMV growth for the segment is expected to be higher, in the high-twenties on YoY basis. This, it added, is despite relatively slower growth in its physical retail business which was impacted by elections as well as heat waves across North India.
Further, despite the muted demand environment in the fashion industry, and with the quarter being seasonally weak due to limited weddings and festivities, Nykaa’s Fashion vertical is projected to post a revenue growth of around 20 per cent on-year. GMV growth for the quarter is expected to be lower at mid-teens YoY.
Earlier in May, Nykaa had recorded fiscal fourth quarter profit at Rs 9.07 crore, posting a jump of 297.8 per cent in comparison to Rs 2.28 crore during the same period last year. It had posted revenue from operations at Rs 1667.98 crore, up 28.1 per cent as against Rs 1301.72 crore during the corresponding quarter of previous fiscal year. During the quarter, Nykaa had stated that the consolidated GMV grew 32 per cent YoY to Rs 3217.20 crore, as all the businesses continue to deliver superior performance.
From: financialexpress
Financial News