Nykaa posts Rs 1,788 Cr revenue in Q3 FY24

Nykaa’s revenue from operations grew 18.7% to Rs 1,788.8 crore during the third quarter of FY24 from Rs 1,507 crore in Q2 of the same fiscal year. 

While comparing to the same quarter of the previous year (Q3 FY23), its scale went up 22.3% from Rs 1,462.8 crore. Moreover, its overall revenue inched closer to Rs 1,800 crore (Rs 1,796.4 crore) mark in the said quarter.

For the nine months period of FY24 (April -December 2023), the company’s revenue from operations stood at Rs 4,717.6 crore.

On the expense side, purchase of traded goods (after adjustment of changes in inventories) stood at Rs 1,028 crore while employee benefit expenditure recorded at Rs 147.9 crore during the quarter. Its total expenses increased by 17.8% to Rs 1,769.9 crore in Q3 from Rs 1,502.3 crore in Q2 FY24.

In line with scale, Nykaa’s profits also ramped up over 2X to Rs 17.45 crore in Q3 FY24 from Rs 7.8 crore in Q2. In Q3 of the previous fiscal year (FY23), it recorded a profit of Rs 8.5 crore.

The company’s gross merchandise value rose to Rs 3,619.4 crore in the third quarter. Nykaa said consolidated beauty and personal care (BPC) GMV grew by 25% YoY, whereas the fashion GMV was up by 40% YoY. 

“We continue to drive improvement in profitability. EBITDA margin expanded to 5.5% for the quarter, a growth of 26% YoY driven by direct and indirect costs efficiencies,” the company said in a release. 

Fulfilment cost as a percentage to revenue stood at 9.6% for the quarter, compared to 10.7% in Q3 FY2023. Similarly, employee expense as a percentage of revenue stood at 8.3% for the quarter, compared to 8.7% in Q3 FY2023, it added.