Start-Up الزيارات: 1584

Nykaa Q1 revenue up despite slowdown

Start-Up الزيارات: 1584
Nykaa
Start-Up الزيارات: 1584

14 August 2023, Mumbai

Strong Revenue Growth Despite Discretionary Spending Slowdown

  • Revenue: Nykaa's revenue grew 23.8% YoY to 14.22 billion rupees ($172 million) in Q1.
  • Signature Sale: The company's signature 'Pink Summer Sale' was a major driver of growth, with orders up 17%.
  • Beauty and Personal Care (BPC) Segment: Nykaa's BPC segment, its primary revenue source, continued to perform well, with a 17% increase in orders.
  • Gross Merchandise Value (GMV): Overall GMV surged 24% to 26.68 billion rupees.
  • Fashion Domain: The fashion domain saw a more modest 12% GMV gain, but still accounted for nearly 30% of total GMV.
  • Pre-tax Profit: Nykaa's pre-tax profit climbed 16.5% YoY to 97.2 million rupees.
  • Executive Departures: The company faced some challenges in Q1, including executive departures and inflation concerns.

Despite these challenges, Nykaa delivered strong revenue growth in Q1.

The company's signature 'Pink Summer Sale' was a major driver of growth, and the BPC segment continued to perform well. Nykaa's pre-tax profit also climbed 16.5% YoY.

Overall, Nykaa's Q1 earnings were robust, and the company is well-positioned for continued growth in the coming quarters.

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