Nykaa remains a key driver of long-term beauty consumption growth in India. During the quarter, it witnessed strong momentum across key drivers of customer acquisition, platform conversion and userlevel growth. This has resulted in a healthy order volume growth, reflecting robust customer demand.
The strong offtake from key categories such as makeup and skin, as well as a highly successful ‘Pink Love Sale’ in the quarter has led to overall beauty and personal care (BPC) growth. Its BPC vertical GMV for the quarter is expected to grow around thirty percent, and NSV growth is expected to be in mid-twenties on a YoY basis, stated by the company.
In Fashion, while the industry growth remains muted, Nykaa Fashion continues its resilient growth momentum from the previous two quarters. Fashion vertical GMV for the quarter is expected to grow in the high twenties, and NSV growth is expected to be in the mid-twenties on a YoY basis.
On brighter note, Nykaa Fashion will continues to find success by prioritizing sustainable growth, focusing on a premium and differentiated offering and high-quality customer acquisitions. This is reflected in outperformance of focus categories as well as core customer segments in the quarter compared to overall growth.
Looking ahead, the company said others vertical which predominantly constitutes superstore by Nykaa, continues to scale exponentially. Others vertical GMV growth for the quarter is expected to be mid-sixties and NSV growth is expected to be around 80% on a YoY basis.
Nykaa (FSN E-Commerce) is one of India's leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive omnichannel e-commerce experience, Nykaa offers over 6,000 brands through its website and mobile applications.
FSN E-Commerce Ventures (Nykaa) reported consolidated net profit of Rs 17.45 crore in Q3 FY24, steeply higher than Rs 8.48 crore posted in Q3 FY23. Revenue from operations increased 22.28% YoY to Rs 1,788.8 crore in Q3 FY24.