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10 February 2022, Mumbai:
The online commerce company's consolidated revenue from operations, however, jumped 36 percent on-year to Rs 109.8 crore in the reported quarter.
FSN E-Commerce Ventures on February 9 reported a 59.5 percent year-on-year decline in its consolidated net profit at Rs 27.9 crore for the quarter ended December.
The online commerce company's consolidated revenue from operations, however, jumped 36 percent on-year to Rs 1,098.4 crore in the reported quarter. On a sequential basis, however, the company saw a sharp improvement aided by festive and wedding demand.
READ MORE: Nykaa Fashion introduces 'IYKYK' an accessory label of bags & footwear to customer delight
Nykaa's consolidated net profit jumped sharply from Rs 1.1 crore in the previous quarter while revenues grew 24 percent on-quarter. The decline in the company's profits on a year-on-year basis was led by higher staff costs and finance costs.
The company's employee costs jumped 56 percent on-year, while finance costs increased by 71.5 percent.
Other expenses in the quarter also weighed on profitability as they soared 107 percent year-on-year to Rs 323.9 crore likely due to an increase in marketing expenses during the quarter.
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*Figures mentioned in the above article have been sourced from Money Control & ET article.
