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.”