Zomato’s Market Cap Stood At INR 1.17 Lakh Cr
Shares of Nykaa have increased around 20% this week
Nykaa’s operational revenue for Q2FY22 rose 46.62% year-on-year, while net profits declined 95.4%
As Nykaa’s share prices buck the overall bearish trend in the stock markets, its market capitalisation has surpassed that of food tech major Zomato.
Its market cap crossed the INR 1.18 Lakh Cr ($15.9 Bn) mark today, while Zomato’s market cap slipped to INR INR 1.17 Lakh Cr ($15.7 Bn).
Around 1.50 p.m, Nykaa’s shares on the BSE were trading at INR 2,512.15, higher by INR 113.60 or 4.74% from its previous close.
On the other hand, the stock price of Zomato declined 6.64% to INR 149.15 per share.
Shares of FSN E-Commerce, which runs the online beauty and lifestyle marketplace have increased around 20% this week.
On November 15, the online beauty unicorn reported a 46.62% year-on-year rise in its revenue from operations for the July-September quarter to INR 885.26 Cr compared to INR 603.77 Cr in the same quarter of last financial year.
The company’s total income during the quarter ended September stood at INR 890.46 Cr, 47.2% higher than INR 604.89 Cr reported during the last fiscal.
The consolidated net profit of the recently listed startup during the period under review, however, declined 95.4% compared to the same period of last fiscal.
For the same quarter, Zomato reported a nearly two fold increase in its consolidated net loss at INR 434.9 Cr, compared to the same period a net loss of INR INR 229.8 Cr reported a year ago.
The increase in losses come on the back of a 174% rise in its expenses to INR 1,601.5 Cr during the period under review, from INR 584.9 Cr in the same period last fiscal.
Its operational revenue, however, more than doubled during the period under review to INR 1,024.2 Cr, from INR 426 Cr in the second quarter of FY21 on the back of growth in the food delivery service.
Both Zomato and Nykaa are seen as torchbearers in India’s startup ecosystem in terms of getting listed on a public exchange. The two startups witnessed bumper listings giving their investors multifold returns.
The Gurugram-based food tech startup Zomato listed on the bourses on July 23 at INR 120, a nearly 53% premium over the issue price of INR 76 per share. It touched the INR 1 Lakh Cr market cap on the first day of its trading on the exchanges.