Nykaa shares were trading at INR 179.65 apiece at 12:40 PM on Monday, as compared to previous close at INR 168.5
The company said last week that it anticipates a "high twenties" on-year growth in revenue during the January-March quarter
During the quarter, Nykaa claims to have witnessed strong momentum across key drivers of customer acquisition, platform conversion and user level growth
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Shares of FSN E-commerce, which operates beauty and fashion ecommerce major Nykaa, jumped over 6% during trading on Monday (April 8), following the company’s expectations of a strong growth outlook in Q4.
Nykaa shares were trading at INR 179.65 apiece at 12:40 PM on Monday, as compared to its previous close at INR 168.50.
The company said last week that it anticipates a “high twenties” on-year growth in revenue during the January-March quarter. Nykaa also clocked in a “early thirties” growth in gross merchandise value (GMV).
“We expect NSV and revenue growth for the quarter to be in the high twenties on a YoY basis. With this, our full financial year 2024 revenue growth is estimated to be in mid-twenties YoY,” the company said.
During the quarter, Nykaa claims to have witnessed strong momentum across key drivers of customer acquisition, platform conversion and user level growth. This has resulted in a healthy order volume growth, reflecting robust customer demand.
Strong offtake from key categories such as makeup and skin, as well as a highly successful ‘Pink Love Sale’ in the quarter has led to overall beauty and personal care (BPC) growth, the company added.
“Our BPC vertical GMV for the quarter is expected to grow around thirty percent, and NSV growth is expected to be in mid-twenties on a YoY basis, which we believe is well ahead of industry growth,” Nykaa said.
“In fashion, while the industry growth remains muted, Nykaa Fashion continues its resilient growth momentum from the previous two quarters. Fashion vertical GMV for the quarter is expected to grow in the high twenties, and NSV growth is expected to be in the mid-twenties on a YoY basis,” it further added.
The ecommerce startup’s consolidated net profit more than doubled to INR 17.4 Cr in the December quarter (Q3) of the financial year 2023-24 (FY24) from INR 8.5 Cr in the year-ago quarter, on the back of a sharp growth in its fashion business and margin expansion.
Nykaa’s operating revenue increased over 22% to INR 1,788.8 Cr from INR 1,462.8 Cr in the corresponding quarter of last year.
The BPC category continued to be the biggest contributor to Nykaa’s overall sales and accounted for 84% of the total operating revenue.
Meanwhile, the fashion segment contributed an operating revenue of INR 152.6 Cr during the quarter, an increase of 20% from INR 127.5 Cr in the same period last year.
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