loader2
Login Open ICICI 3-in-1 Account
Open ICICI 3-in-1 Account

FSN E-Commerce Ventures Results: Latest Quarterly Results & Analysis

Open Free Trading Account Online with ICICIDIRECT
+91
FSN E-Commerce Ventures Ltd. 07 Nov 2025 17:34 PM
Result PDF

Q2FY26 Quarterly Result Announced for FSN E-Commerce Ventures Ltd.

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q2FY26 results

  • Consolidated GMV grew 30% to Rs 4,744 crore.
  • Revenue from Operations grew 25% YoY to Rs 2,346 crore in Q2FY26. This marks the 12th consecutive quarter of ~mid20s growth.
  • Gross Profit grew 28% YoY to Rs 1,054 crore in the quarter, highest gross margin in last 12 quarters.
  • EBITDA grew 53% YoY to Rs 159 crore.
  • EBITDA margins expanded to 6.8% in Q2FY26 vs 5.5% in Q2FY25, highest since IPO.
  • Net Profit for the period (PAT) was Rs 33 crore, up 154% YoY in Q2FY26.

Falguni Nayar, Executive Chairperson, Founder & CEO, Nykaa, said: “Our performance this quarter reflects accelerated growth momentum across Nykaa, with each of our businesses contributing meaningfully to this trajectory. The Beauty business continues to deliver consistently, achieving over 25% GMV growth for several consecutive quarters. This quarter saw accelerated brand launches, particularly across Luxury and Korean Beauty, alongside the addition of 19 new stores, further strengthening our omnichannel presence. Through Nykaa Now, our rapid delivery model, we are able to deliver unparalleled convenience to consumers without compromising on assortment. Our House of Nykaa portfolio recorded an impressive 54% YoY GMV growth, driven by sustained momentum in our owned beauty brands, which continue to resonate deeply with consumers. The Fashion business delivered 37% YoY GMV growth, complemented by the introduction of globally trending brands this year such as GAP, Guess, and H&M, reinforcing our differentiated curation and growing appeal in premium fashion. Even our customer acquisition has accelerated, now with 49 million cumulative customer base across beauty & fashion. Strategically, this has been a pivotal quarter, one where our long-term growth pillars have translated into near-term acceleration, underscoring the strength and scalability of the Nykaa ecosystem.”

Result PDF

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q1FY26 results

  • Revenue from Operations grew 23% YoY to Rs 2,155 crore in Q1FY26.
  • Gross Profit grew 27% YoY to Rs 962 crore in the quarter.
  • EBITDA grew 46% YoY to Rs 141 crore in Q1FY26.
  • EBITDA margins expanded to 6.5% vs 5.5% in Q1FY25.
  • Profit Before Tax grew 98% YoY to Rs 44 crore in Q1FY26.
  • Net Profit for the period (PAT) was Rs 24 crore, up 79% YoY.

Falguni Nayar, Executive Chairperson, Founder & CEO, Nykaa, said: “This quarter’s performance underscores Nykaa’s ability to consistently balance growth and profitability across both our beauty and fashion businesses. Our GMV for the quarter grew 26% YoY to Rs 4,182 crore, supported by accelerated premiumization and deeper market penetration. Since our IPO, we have consistently delivered mid-20s growth at a consolidated level. Our cumulative customer base now stands at 45 million, reflecting the growing trust and adoption of our platform. The House of Nykaa Beauty business also continues to scale rapidly, driven by successful new launches and strong consumer demand, now contributing 18% of our overall beauty GMV*—a clear testament to our brand-building strength.”

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from Operations grew 24% YoY to Rs 2,062 crore in the quarter.
  • Gross Profit grew 28% YoY to Rs 909 crore in the quarter.
  • EBITDA grew 43% YoY to Rs 133 crore in Q4FY25.
  • EBITDA margin was 6.5% in Q4FY25 vs 5.6% in Q4FY24
  • Profit before Tax grew 102% YoY to Rs 40 crore in Q4FY25
  • Net Profit for the Period was Rs 19 crore, up 110% YoY.

FY25 Financial Highlights:

  • Revenue from Operations grew 24% YoY to Rs 7,950 crore in the year
  • Gross Profit grew 27% YoY to Rs 3,477 crore in the year.
  • EBITDA grew 37% YoY to Rs 474 crore in FY25.
  • EBITDA margin was 6.0% in FY25 vs 5.4% in FY24
  • Profit before Tax grew 85% YoY to Rs 127 crore in FY25
  • Net Profit for the Period grew 81% YoY to Rs 72 crore.

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q3FY25 results

  • Revenue from Operations grew 27% YoY to Rs 22,672 million in Q3FY25.
  • Gross Profit grew 30% YoY to Rs 9,911 million in the quarter.
  • EBITDA grew 42% YoY to Rs 1,408 million in Q3FY25.
  • EBITDA margins expanded to 6.2% vs 5.5% in Q3FY24.
  • Profit Before Tax grew 68% YoY to Rs 446 million in Q3FY25.
  • Net Profit for the Period was Rs 264 million, up 51% YoY.

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q2FY25 results

  • Revenue from Operations grew 24% YoY to Rs 18,747 million in Q2FY25.
  • Gross Profit grew 26% YoY to Rs 8,210 million in the quarter.
  • EBITDA grew 29% YoY to Rs 1,037 million in Q2FY25.
  • Profit Before Tax grew 60% YoY to Rs 213 million in Q2FY25.
  • Net Profit for the Period was Rs 130 million, up 66% YoY.

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from Operations grew 28% YoY to Rs 16,680 million in the quarter.
  • Gross Profit grew 23% YoY to Rs 7,102 million in the quarter. Gross Margin stood at 42.6%.
  • EBITDA grew 32% YoY to Rs 933 million in Q4FY24. EBITDA margin was 5.6% in Q4FY24 vs 5.4% in Q4FY23
  • Profit before Tax grew 126% YoY to Rs 196 million in Q4FY24
  • Net Profit for the Period was Rs 91 million, up 298% YoY

FY24 Financial Highlights:

  • Revenue from Operations grew 24% YoY to Rs 63,856 million in the year
  • Gross Profit grew 20% YoY to Rs 27,392 million in the quarter. Gross Margin stood at 42.9%
  • EBITDA grew 35% YoY to Rs 3,462 million in FY24. EBITDA margin was 5.4% in FY24 vs 5.0% in FY23
  • Profit before Tax grew 80% YoY to Rs 690 million in FY24.
  • Net Profit for the Period grew 90% YoY to Rs 397 million.

Result PDF

Internet Catalogue & Retail company FSN E-Commerce Ventures announced Q3FY24 results:

Financial Highlights:
- Gross Merchandise Value (GMV): Increased by 29% YoY to Rs 36,194 million in Q3FY24.
- Revenue from Operations: Rose by 22% YoY to Rs 17,888 million in the quarter.
- Gross Margin: Grew by 20% YoY, reaching Rs 7,607 million, with a gross margin of 42.5%.
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): Expanded by 26% YoY to Rs 988 million in Q3FY24.
- Profit Before Tax (PBT): Surged by 109% YoY to Rs 265 million in Q3FY24.
- Net Profit for the Period (PAT): Increased significantly by 106% YoY to Rs 175 million, with a PAT margin of 1.0%.

Business Highlights - Beauty & Personal Care (BPC):
- The BPC segment's consolidated GMV observed industry-leading growth of 25% YoY.
- Physical retail footprint expanded with 39 new stores, totaling 174, contributing to more than 9% of BPC GMV and improving EBITDA by 35% YoY.
- Notable growth in owned beauty brands, with Dot & Key reaching a Rs 5,000 million GMV run rate.

Business Highlights - Fashion:
- Fashion GMV experienced substantial growth of 40% YoY.
- The number of annual unique transacting customers (AUTC) grew by 23% YoY to 2.9 million.
- Contribution margin as a percentage to NSV for Nykaa Fashion improved by 510 basis points to 6.0% in Q3FY24

New Businesses/Others:
- New businesses, which include distribution operations such as Superstore by Nykaa, grew NSV by 88% YoY in Q3FY24.
- Distribution business contribution margin as a percentage to NSV improved by 766 basis points YoY. 

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced Q2FY24 results:

Financial Highlights:
1. Consolidated revenue from operations grew by 22% YoY, crossing Rs 15,07 crore in Q2FY24.
2. Gross Margin Value grew 25% YoY to Rs 29,435 million in Q2FY24.
3. NSV grew 24% YoY to Rs 14,983 million in Q2FY24.
4. EBITDA increased by 32% YoY to over Rs 80 crore, with an EBITDA margin of 5.4% for Q2FY24.
5. Profit Before Tax grew by 51% YoY to Rs 133 million, and Net Profit for the quarter increased by 50% YoY to Rs 78 million.
6. Net Profit for the Period grew 50% YoY to Rs 78 million.

Business Highlights:
1. Beauty & Personal Care (BPC):
- BPC GMV grew at 23% YoY, with NSV growth of 19% YoY.
- Physical retail business expanded with 13 new stores launched in the quarter.
- Owned beauty brands experienced NSV growth of close to 21% YoY.

2. Fashion:
- Consolidated revenue from operations in fashion business grew by 28% YoY.
- NSV in Q2FY24 increased by 32% YoY, driven by an increase in annual unique transacting customers.
- Contribution margin as a % to NSV for Nykaa Fashion improved to 4.7% in Q2FY24.

3. Others/New Businesses:
- Superstore by Nykaa witnessed NSV growth of 105% YoY, serving almost 1.3 lakh transacting retailers across 770 cities.
- Significant YoY improvement in contribution margin for new businesses.

 

 

Result PDF

Internet & Catalogue Retail company FSN E-Commerce Ventures announced consolidated Q1FY24 results:

  • GMV grew 24% YoY to Rs 26,678 million in Q1FY24
  • Revenue from Operations grew 24% YoY to Rs 14,218 million in Q1FY24.
  • EBITDA grew 60% YoY to Rs 735 million in Q1FY24.
  • EBITDA margin was 5.2% in Q1FY24 vs 4.0% in Q1FY23, an expansion of 116 bps.
  • Profit before Tax grew 17% YoY to Rs 97 million in Q1FY24
  • Net Profit for Q1FY24 grew 8% YoY to Rs 54 million.

On the Q1FY24 performance, Falguni Nayar, Executive Chairperson, MD, and CEO, said, “Our beauty vertical continues to shape into an ecosystem of its own – with steady and balanced growth across our online platforms, physical footprint as well as our consumer brands. Fashion’s consumer brands also experienced steady growth with our labels now spanning across categories – western wear, Indian wear, lingerie, menswear, accessories, and much more. Nykaa Fashion’s growth in the quarter was much ahead of the industry growth but below its long-term trajectory.

The Nykaa ethos to grow businesses and brands with passion, but also with discipline, is again visible in the way Superstore By Nykaa and our beauty brand Dot & Key have seen significant scale quickly – all while improving the underlying unit economics. Dot & Key has crossed an annualized GMV run rate milestone of 300 crores, growing five-fold in two years while achieving profitability, demonstrating the successful model of building value with the Nykaa playbook.”

 

 

Result PDF

Internet & Catalogue retail firm FSN E-Commerce Ventures announced Q3FY23 results:

Consolidated Q3FY23:

  • During the quarter, we continued to demonstrate strong GMV growth, efficiency in fulfilment and marketing expense.
    • GMV grew 37% YoY to Rs 27,965 million, while revenue from operations grew 33% YoY in the quarter
    • Gross profit grew 25% YoY to Rs 6,347 million in Q3 FY2023
    • EBITDA grew 13% YoY to Rs 782 million and EBITDA margin came in at 5.3%
    • Profit before tax stood at Rs 127 million and net profit for the period was Rs 85 million
  • Beauty and personal care (BPC): Strong performance continued with contribution margin expansion of 186 bps YoY
    • GMV grew 26% YoY to Rs 19,014 million in Q3 FY2023
    • Monthly average unique visitors grew 22% YoY to 24.2 million, while annual unique transacting customers grew 27% to 9.6 million
    • Orders grew 26% YoY to 9.5 million in the quarter, while order conversion improved to 3.8% in Q3FY23, a substantial improvement over same quarter last year
    • GMV contribution from existing customers at 76% as on December 31, 2022
    • BPC contribution margin has improved by 186 bps YoY in Q3FY23 led by efficiency in fulfilment and marketing expenses
  • Fashion: Focus on driving sustainable and profitable growth while delivering on the core proposition.
    • GMV grew 50% YoY to Rs 7,244 million in Q3FY23
    • Fashion GMV contributed 25.9% to consolidated GMV this quarter
    • Monthly average unique visitors grew 18% YoY to 19.4 million, while annual unique transacting customers grew 50% YoY to 2.4 million
    • Orders grew 31% YoY to 1.7 million, while order conversion improved to 1.2% in Q3FY23
    • Fashion contribution margin has been positive in the quarter
  • Others: Continuing investment in new growth verticals.
    • Other GMV which includes new business initiatives grew 254% YoY to Rs 1,707 million, contributed 6.1% to consolidated GMV this quarter
    • SuperStore by Nykaa has scaled to 92,415 transacting retailers across 650 cities with 185 brands listed as on December 31, 2022

Q3FY23 performance, Falguni Nayar, Executive Chairperson, MD, and CEO, said: The business has delivered consistent strong GMV and revenue growth at 37% YoY and 33% YoY respectively. The performance has been especially good given the backdrop of eight fewer festive days in Q3FY23, compared to Q3FY22. Especially heartening is the rebound of Nykaa Fashion, that has delivered a GMV and revenue growth of 50% YoY and 43% YoY respectively. Fashion now contributes to 25.9% of GMV, and 14.6% at NSV level. Other business led by the SuperStore, our e-B2B initiative now contributes to 6.1% of the GMV from 2.4% in Q3FY22.

Our EBITDA delivery has been strong, with scale efficiencies in fulfilment and marketing expenses. There's been a structural improvement in fulfilment expense as we move to regional warehouses. Our marketing efforts are focused on the order-conversion ratio, rather than chasing visits alone, which is reflective of the highest-ever conversions of 3.8% in BPC, and 1.2% for Fashion in Q3FY23. Our employee benefit expense has been kept in check post 1HFY23, as we have secured the talent we needed, and look towards enhanced productivity. Our accelerated investments in new beauty store roll-out this year has seen us add 14 stores in Q3 FY23, taking the total store count to 135 stores and making us the largest beauty specialist retailer in India.

Result PDF

Trending News

Saregama India's announced strategic partnership with, and investment in, Sanjay Leela Bhansali's Bhansali Productions

Saregama India's announced strategic partnership with, and investment in, Sanjay Leela Bhansali's Bhansali Productions

Published on 17-Dec-2025 09:01

The Competition Commission of India (CCI) has approved ITC’s acquisition of the paper and pulp manufacturing business of Aditya Birla Real Estate Ltd (ABREL).

The Competition Commission of India (CCI) has approved ITC’s acquisition of the paper and pulp manufacturing business of Aditya Birla Real Estate Ltd (ABREL)

Published on 17-Dec-2025 09:00

Zydus Lifesciences has received a USFDA acceptance for its ANDA of for copper histidinate (CUTX-101), intended to treat Menkes disease in pediatric patients.

Zydus Lifesciences has received a USFDA acceptance for its ANDA of for copper histidinate (CUTX-101), intended to treat Menkes disease in pediatric patients.

Published on 16-Dec-2025 09:05

KIMS has commenced operations at its newly established hospital located at the PES University campus in Electronic City, Bengaluru

Krishna Institute of Medical Sciences (KIMS) has commenced operations at its newly established hospital located at the PES University campus in Electronic City, Bengaluru

Published on 16-Dec-2025 09:03

Power Grid Corporation of India Ltd (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding

Power Grid Corporation of India Ltd (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding 

Published on 16-Dec-2025 09:01

Marico is in talks to acquire Cosmix, a startup that sells plant-based protein supplements

Marico is in talks to acquire Cosmix, a startup that sells plant-based protein supplements

Published on 16-Dec-2025 09:00

Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
Download App

Download Our App

Play Store App Store
market app
✕
Application status