How will Nykaa perform in the next quarter? Zee Business’ Exclusive Interview with Nykaa's founder and CEO Falguni Nayar

Nykaa fashion: In an exclusive interview with Zee Business, Falguni Nayar — founder and CEO of lifestyle and fashion company, FSN E-Commerce Ventures, which operates under the Nykaa brand, and co-founder Adwaita Nayar talked about the Q2 results and the path ahead. 

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Falguni Nayar said that the October to December quarter is seasonally strong, “October to December quarter is generally seasonally a strong quarter, due to Diwali coming in October and in November there are various sales like our Pink Friday sale which comes towards the end of November. December also has a little festive vibe due to which October to December quarter is generally seasonally a strong quarter.” 

Adwaita Nayar, co-founder of Nykaa said that fashion is becoming very meaningful for the company and it is operating from a place of strength.

“When it comes to fashion we are feeling very good about the trajectory of the fashion business, this quarter the Gross Merchandise Value (GMV) of the fashion business has grown almost 43- 44 per cent taking the GVM of the quarter to Rs 600 crores or so and this contributes to about 25-26 per cent of the overall company’s consolidated GVM so fashion has become very meaningful for us,” she opined. 

She further said that many metrics have been released in the September quarter in the fashion business, “Average order value has crossed Rs 4,400 which is by far the best average order value we have seen in two years or so much higher than what e-commerce companies see.”

The consolidated Gross Merchandise Value (GMV) of Nykaa grew 45 per cent year-on-year to Rs 2,345.7 crore in the September quarter. The Beauty and Personal Care (BPC) segment of Nykaa recorded 31 per cent year-on-year growth in annual unique transacting customers to 91 lakh, while its GMV grew 39 per cent to Rs 1,630.1 crore in the quarter under review.

Nykaa said that BPC registered 39 per cent year-on-year growth in orders at 84 lakh during the reported quarter. 

Nykaa posted a 330 per cent increase in consolidated net profit at Rs 5.19 crore for the three months ended September. The company had posted a net profit of Rs 1.17 crore in the same period a year ago.

According to an exchange filing, Nykaa's consolidated revenue from operations increased 39 per cent to Rs 1,230.8 crore in the second quarter of the current financial year. In the year-ago period, the same stood at Rs 885.26 crore. 

Nykaa’s share closed on NSE at Rs 1150 apiece which was down by 2.99 per cent and on BSE the stock closed at Rs 1153.60 per share which was down by 2.71 per cent.

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