Nykaa Q4 Results: Net profit soars 187% YoY; GMV growth in the beauty industry reaches its greatest level in six quarters; five salient features

Results for the January-March quarter of fiscal 2023–24 (Q4FY24) were released by Nykaa's parent company, FSN E-Commerce Ventures, on Wednesday, May 22. The results showed a massive four-fold increase in the quarterly net profit attributable to shareholders, with a preference for customer retention over steep discounts. In the fourth quarter of FY24, the net profit increased by 187% to ₹6.9 crore from ₹2.4 crore during the same period the previous year.

The company headed by Falguni Nayar had a 28% increase in operating revenue in the March quarter, totaling ₹1,668 crore, as opposed to ₹1,302 crore during the same period the previous year. The inclination of wealthy customers for high-end cosmetics and fragrances from names like Dior, Bobbi Brown, and Estee Lauder drove the sales.