Nykaa Q4 earnings slip 72% to Rs 2.4 crore, even as revenue rises 34%

FSN E-Commerce Ventures, parent company of beauty and fashion brand Nykaa, on Wednesday, reported a 71.8 per cent year-on-year (YoY) decline in its net profit to Rs 2.4 crore for the quarter ended March 31. Its net earnings were Rs 8.5 crore a year ago.

The company’s fashion business witnessed a demand slowdown; its expenses surged, too, due to growing material and employee costs.

Nykaa’s revenue, on the other hand, increased 33.7 per cent to Rs 1,302 crore in Q4 FY23, up from Rs 973 crore in the same period a year ago. However, revenue declined on a sequential basis from Rs 1,463 crore.