Tremendous rise in Nykaa's shares after Q2 results; Company's net profit increased so much in the September quarter
Nykaa Q2 Result: Yesterday, Nykaa announced its quarterly results. After this announcement, there was a rise in the company's shares and this rise continues even today. Today Nykaa shares opened with gains. The company had said in its quarterly results that the company's profit increased by 50 percent in the second quarter of the current financial year.
Beauty fashion e-tailer FSN E-Commerce Ventures is operated by Nykaa. Yesterday i.e. on Wednesday the company announced its quarterly results. After this announcement, there was an increase in the net profit of the company. In Thursday's trading session, the company's shares opened at Rs 151 per share with a gain of 3.65 points. After the announcement of the company's quarterly results, investors are liking the company's shares a lot.
The company informed in its regulatory filing that the company's profit has increased by 50 percent to Rs 7.8 crore in the September quarter. The company's revenue in the same period last year was Rs 1,230.82 crore, which increased by 22.4 percent to Rs 1,507 crore this year.
Consolidated beauty and personal care (BPC) GMV (gross merchandise value) grew by 23 percent year-on-year, Nykaa said in a statement. At the same time, net selling value (NSV) registered an increase of 19 percent year-on-year.
The company said in its statement, "Due to the proliferation of many domestic brands in the country as well as the increasing number of international brands, discounts have been given in many categories. After which India has become a primary market. After Covid-19 The company has opened 13 stores. It is expanding physical shopping. A total of 165 stores have been launched by Nykaa by the second quarter of the current financial year i.e. September 30, 2023."
The company's fashion business grew by 28 percent year-on-year to Rs 130.5 crore. NSV was due to grow by a strong 32 percent year-on-year in Q2FY24. Apart from this, AUTC increased by 30 percent year-on-year to 2.8 million on September 30.
