Nykaa Q3 Results FY2023, Net profit at Rs.8.5 crores

On 13th February, Nykaa announced its results for the third quarter of FY2023.

Key Highlights:

- Revenue from operations was reported at Rs. 1,462.8 crore, up by 33.18% YoY.
- EBITDA stood at Rs. 78.2 crore, up by 13% YoY.
- EBITDA margin was reported at 5.3%.
- Nykaa reported a net profit of Rs. 8.5 crore for the quarter, down by 70.69% YoY.

Business Highlights:

- Total GMV (gross merchandise value) grew by 37% YoY to Rs. 2,797 crores.
- Beauty and Personal Care GMV grew by 26% YoY to Rs. 1,901 crores.
- Fashion GMV grew by 50% YoY to Rs. 724 crores.
- The monthly average unique visitors increased to 24 million with a growth of 22% YoY in the Beauty and Personal Care vertical and to 19 million with a growth of 18% YoY in the Fashion vertical.
- Annual unique transacting customers reached 9.6 million with a growth of 27% YoY in the Beauty and Personal Care vertical, and 2.4 million with a growth of 50% YoY in the Fashion vertical.

Commenting on the performance Nykaa Executive Chairperson, MD, and CEO Falguni Nayar said: “The business has delivered consistent strong GMV and revenue growth at 37 percent YoY and 33 percent YoY, respectively. The performance has been especially good given the backdrop of eight fewer festive days in Q3FY23, compared to Q3FY22. 
Our EBITDA delivery has been strong, with scale efficiencies in fulfillment and marketing expenses. There's been a structural improvement in fulfillment expenses as we move to regional warehouses. Our marketing efforts are focused on the order-conversion ratio, rather than chasing visits alone, which is reflective of the highest-ever conversions of 3.8% in BPC, and 1.2% for Fashion in Q3FY23. Our employee benefits expense has been kept in check post 1HFY23, as we have secured the talent we needed, and look towards enhanced productivity.”