Nykaa’s Q3 profit down 71%

Nykaa’s parent company FSN E-Commerce Ventures reported a 71 per cent decline in its consolidated profit at Rs 8.4 crore in the third quarter, as against Rs 29 crore in the year-ago period.

Operating revenue grew 33 percent to ₹1,462.8 crore (₹1,098 crore).

Commenting on the performance, Falguni Nair, Executive Chairman, MD & CEO, said: “The business has continued to report strong GMV and revenue growth of 37 per cent and 33 per cent respectively. Q3 FY23 is eight lower than Q3 FY22 The performance has been particularly good against the backdrop of festive days.

“Our accelerated investment in new beauty store rollouts this year saw us add 14 stores in the third quarter, taking the total store count to 135 and making us the largest beauty specialist retailer in India,” he added.

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