Fashion-to-beauty retailer Nykaa posted nearly four-fold jump in quarterly profit on Thursday, driven by strong demand for skincare and makeup products.


Nykaa is sharpening its push for profitability by doubling down on its core beauty business and expanding its offline reach as it seeks to tap India's $28 billion beauty market.

Global partnerships including the global roll-out of actor Katrina Kaif's Kay Beauty and widening access to Rihanna's Fenty Beauty are strengthening its premium portfolio and enabling the firm to become a full-stack beauty and lifestyle platform.

Nykaa, formally known as FSN E-Commerce Ventures, posted a profit of Rs 78 crore for the quarter ended March 31, compared with Rs 20 crore a year ago.

Its biggest segment, beauty, posted a 27.2% rise in revenue to Rs 2,410 crore.

Sales for its fashion vertical, which includes apparel and accessories from labels like Victoria's Secret and Titan's Mia, jumped 40% to Rs 225 crore.

This drove overall revenue 28.4% higher to Rs 2,648 crore.

On May 21, Nykaa shares closed 0.6% higher at Rs 275 apiece.

Falguni Nayar, Executive Chairperson, Founder and CEO of Nykaa said, “Crossing the $1 billion revenue milestone along with track record for profitability and capital efficiency marks a defining moment in Nykaa’s 14-year journey and reflects the deep trust consumers place in us. Over the past three years, Nykaa has evolved into a multi-engine growth platform, with our Beauty & Fashion businesses doubling their GMV, while our newer businesses like Superstore and House of Nykaa have grown 4X during the same period.

"Today, we serve over 55 million consumers who are among the most engaged and premium customers in India. As we continue to build scalable and sustainable businesses across Beauty and Fashion, we are building Wellness as a future frontier and remain confident in the long-term opportunity ahead. Simultaneously, we are seeing AI emerge as a powerful enabler for consumer businesses, enabling us to serve our customers with greater personalisation, efficiency, and scale.”