E-commerce retailer Nykaa’s stock declines the most in nine months

Shares of FSN E-Commerce, the parent company of Nykaa, experienced their largest intra-day decline since March 2022 on Monday following concerns raised by brokerages about the company’s growth prospects. The stock concluded the session at Rs 134, marking an 8.3 percent decrease, the sharpest drop since November 2022. The company had released its quarterly results on Friday after the market closed.

For the quarter ending in June, FSN E-Commerce reported a 24 percent year-on-year (Y-o-Y) increase in revenues, reaching Rs 1,422 crore. However, its net profit saw a 28 percent decline, amounting to Rs 3.3 crore.