Nykaa’s revenue increased 47% to Rs 890 crore in the quarter ended September 30 from the previous year.
New Delhi: FSN E-Commerce Ventures Ltd., which runs Indian beauty startup Nykaa, saw profits drop 96% due to increased marketing costs in the quarter prior to its IPO. they. Stocks fell on Monday.
Net income fell to Rs 1.2 crore ($161,000) in the quarter ended September from Rs 27 crore the year before, according to a report late on Sunday, as a 92% increase in expenses resulted in a 47% increase revenue. Shares fell 5.2% at Rs 2,236.5 as of 10:07 am in Mumbai after falling as much as 7.3% in early hour trading.
This is the first result filed since the Mumbai-based company’s shares were listed on the exchange last week and doubled in value. The IPO has helped Falguni Nayar, who owns about half of the company, is worth nearly $7 billion and is India’s richest self-made female billionaire.
Nykaa is part of a new generation of Indian startups, offering over 2,500 brands of everything from mascaras and makeup removers to velvety Indian eyeliner and body art. called mehendi.
Its revenue grew 47% to Rs 890 crore in the quarter ended September 30 year-on-year.
