Mumbai: Nykaa has announced its financial results for the quarter ended September 2023 on 6 November. The company reported a net profit of Rs 7.8 crore for the quarter under review,  a 50 per cent rise from the year-ago period. Nykaa reported a net profit of Rs 5.42 crore in the June quarter.

The growth was driven by the e-commerce's beauty and personal care (BPC) business.

Revenue from operations climbed 22 per cent to Rs 1,507 crore for the quarter under review, from Rs 1,230.82 crore a year ago. Nykaa noted that the revenue rose in the quarter despite the delay in the festive season as compared to the previous year.

Nykaa noted that the physical retail business continued to expand post-COVID on the back of 13 new stores launched in the quarter, taking the total number of stores to 165 as of 30 September 2023. The retail business now constitutes 8 per cent of the overall beauty and personal care gross merchandise value. Nykaa's brands in beauty experienced Net Sales Value growth of close to 21 per cent year-on-year.

Nykaa also reported that the consolidated revenue from operations from its fashion business stood at Rs 130.5 crore in Q2FY24, marking an on-year growth of 28 per cent.

The shares of the company also ended 5 per cent higher on 6 November, ahead of the announcement of its quarterly numbers.