FSN E-Commerce Ventures registers 187 % growth in consolidated net profit during Q4, FY24

The consolidated net profit of Nykaa operator FSN E-Commerce Ventures increased by 187 per cent to Rs 6.9 crore during Q4 FY24 ended March 2024,
This was against Rs 2.4 crore net profit recorded in the corresponding quarter last year.
The company’s revenue from operations during the quarter rose by 28 per cent Y-o-Y to to Rs 1,668 crore. Revenue from the beauty and personal care (BPC) business grew by 24 per cent Y-o-Y to Rs 1,389 crore. Its gross merchandise value (GMV) for the segment increased by 30 per cent Y-o-Y to Rs 2,120 crore. FSN’s net sales value (NSV) for the BPC business jumped by 24 per cent Y-o-Y to Rs 1,271 crore.
Meanwhile, revenue from the fashion business rose by 27 per cent Y-o-Y To Rs 1,334 crore in the March quarter, with GMV for the segment growing 27 per cent Y-o-Y to Rs 842 crore.
Revenue from other businesses grew by 90 per cent Y-o-Y to Rs 146 crore, while GMV for the segment increased 68 per cent Y-o-Y to Rs 255 crore.
The company’s board plans to invest Rs 20 crore in its wholly owned subsidiary, FSN International, on a rights basis. Further, FSN International plans to invest approximately $1.9 million in one of its overseas arms.