Online cosmetics retailer Nykaa’s Q2 net more than doubles to Rs 5.2 cr

Nykaa, the online fashion and cosmetics retailer, posted a net profit of Rs 5.2 crore for the second quarter of FY23, up over 300 per cent year on year from Rs 1.2 crore. Sequentially, the profit figure was up four per cent.

Revenue for the quarter was up 39 per cent YoY to Rs 1,230.8 crore, and rose seven per cent sequentially.

The company said it continued to demonstrate strong GMV growth during the quarter, with improvement in gross margin, efficiency in fulfilment and marketing cost lead to improvement in Ebitda margin YoY.

Falguni Nayar, executive chairperson, MD and CEO, said, “Our online and offline presence in beauty has delivered strong growth with improving margins.