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.