Last updated : February 07, 2024 10:34 am
The brand, which announced its financial results for the quarter ended December 31, 2023, says its physical retail footprint continues to expand with 39 new stores launched over the last 4 quarters, totalling 174 stores as of December 31, 2023.
Nykaa (FSN E-Commerce) has announced its financial results for the quarter ended December 31, 2023, which shows strong growth in consolidated GMV (Gross Merchandise Value) at 29% YoY; continuous improvement in profitability with EBITDA growth of 26% YoY and PAT growth of 106% YoY. The company also shared that its consolidated revenue from operations continues to grow at a strong pace of 22% YoY, totalling ₹ 17,888 million for the quarter.
The company says its physical retail footprint continues to expand with 39 new stores launched over the last 4 quarters, totalling 174 stores as of December 31, 2023. “The retail business now contributes to over 9% of the overall BPC GMV while also continuing to improve profitability. This is reflected in EBITDA improvement of 35% YoY. Our retail stores are critical to omnichannel strategy of premium brands. 85+ premium brands are present across our store network and contribute over 2/3rd to our offline GMV,” says the company statement.
It adds that the company owned brands in beauty experienced a strong GMV and NSV growth of 40% YoY and 36% YoY respectively and that its fashion GMV witnessed a strong growth of 40% YoY led by strong growth across all metrics. “Our fashion business is showing consistent improvement in profitability reflecting our platform strength and quality of our customers. Contribution margin as a % to NSV for Nykaa Fashion improved by 510 bps and stood at 6.0% in Q3 FY2024 vs 0.9% in Q3 FY2023. This was supported by strong improvement in our marketing expenses, down to 23.9% vs 28.6% a year ago.”
The Company’s board has approved group business restructuring initiatives towards bringing operational synergies by streamlining business operations across entities.