The comments come against the backdrop of the newly listed company reporting a 65% decline in profitability for the second quarter ended September 30, 2021, at Rs 1.2 crore as compared to the same period last year. The company’s quarterly results were filed on the stock exchanges on Sunday evening.
Nykaa, however,
Its revenue grew 47% to Rs 885 crore in the same period. Its marketing and advertising spend increased from Rs 31.5 crore in Q2FY21 to Rs 121.4 crore for Q2FY22. To be sure, last year was a pandemic year in which sales across all companies, especially in the direct-to-consumer (D2C) sector, took a big hit.
Nykaa’s parent company FSN E-commerce spotted
Share price down nearly 8% In early trade on Monday but reached Rs 2,296.00 per share on BSE in the afternoon.
“We will move towards getting more customers,” he said. “Last year, the marketing costs were unusually low and the market witnessed vengeance buying after the first wave of the pandemic,” Nair said, adding that the festive season has seen unprecedented growth and FY22. This should reflect in the December quarter. “July, August and September this year have not been anything special, but we expect the festive shopping to continue till February-March next year, when the wedding season starts,” Nair said.
Announcing its June-September quarter results, Mumbai-based etailer said in a filing with the stock exchanges that its gross trading value (GMV) for the quarter ended September 30, 2021, increased between 63% and 10% on a year-on-year basis. increase was observed. quarter-on-quarter growth. For the quarter ended September 30, 2021, its consolidated revenue from operations grew 47% to Rs 885.30 crore as against Rs 603.8 crore in the same period last year. Its sequential or quarter-on-quarter growth stood at 8%, at Rs 817 crore for the quarter ended June 30, 2021.
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“Our half-yearly numbers show that we reported a profit of Rs 4.7 crore in the current financial year as against a loss of Rs 25.1 crore in the same period last year, which is a significant turnaround for us,” Nair said. Nair said, “We will go ahead with the acquisition of more customers.”
However, its earnings before interest, tax, depreciation and amortization or Ebitda for the quarter ended September 30, 2021 stood at Rs 28.8 crore, down 48% from Rs 55 crore in the same period last year. Its profit after tax for the second quarter of FY12 fell to Rs 1.2 crore from Rs 27 crore in Q2FY21.
in one
last week interviewAfter the company’s bumper listing, Nair told ET that the company will continue to focus on growth in the beauty and fashion business. “This is a multi-year journey and we are confident that we will continue to grow both our beauty and fashion businesses manifold over the next five years. Similarly,
The house of brands will also continue to grow, as we become like a consumer company with multiple brands. We are also setting up our e-B2B (business-to-business) vertical – a super store where we will sell beauty products to retailers.”
The fashion business grew rapidly, registering a growth of 295% at Rs 11.5 crore for the quarter ended September 30, 2021, as against Rs 2.9 crore in the same period last year. Fashion, however, was smaller than the beauty business, which brought in the lion’s share of revenue, Rs 22 crore during Q2FY22, as against Rs 17.1 crore in Q2FY21, or an increase of 29% year-on-year. On a sequential basis, compared to the June quarter, there was an increase of 3% for beauty and 16% for fashion, the filing showed.
The company’s gross trading value for the quarter ended September 30, 2021 stood at Rs 1622.9 crore as against Rs 997.1 crore in the same period last year, a jump of 63%. On a sequential basis, the increase was 10%.
Nykaa hit the Indian stock exchanges on November 10, marking a bumper start for the Mumbai-based firm. Its market cap crossed Rs 1 lakh crore when the stock started trading at almost 80% premium to its issue price of Rs 1,125.