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Nykaa profitable in Q2 as revenue surges 47%

Online beauty platform Nykaa today reported consolidated net profit of ₹1.2 crore for the quarter ending September, 2021, down from ₹27 crore reported in the same quarter last year.

Its revenue from operations increased to ₹885 crore with a growth of 47% on year-on-year basis and 8% on sequential basis. Marketing support revenue grew by 68% year-on-year.

The company’s consolidated Gross Merchandise Value (GMV) during the reporting period grew by 63% year-on-year and 10% quarter-on-quarter to ₹1,622 crore.

Shares of Nykaa, made a stellar stock markets debut recently on Wednesday, 10 November. The stock was listed at ₹2,018, a 79.37% premium over its issue price of ₹1,125 apiece.

The market capitalisation zoomed past ₹1 lakh crore on the day of listing and the firm entered the top 50 most valuable companies club.

The ₹5,350 crore initial public offering (IPO) of Nykaa was subscribed 82 times during its share sale that ended on 1 November.

On Friday, ahead of the results, Nykaa shares were up 5.26% to close at ₹2,329.95 apiece on NSE.

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