Worst behind for Nykaa? Brokerages see up to 70% rise in stock after three-fold jump in Q2 profit
Nykaa Share Price: According to a filing on Tuesday, the company posted over 300 per cent jump in consolidated net profit at Rs 5.19 crore for the three months ended September.
Nykaa Share Price: Nykaa stocks have made a strong comeback after declining in the past few sessions ahead of the expiry of the one-year lock-in period for its pre-IPO shareholders on November 10. The stock on Friday opened in green but surrendered the gains to trade in negative bias, tracking the overall market sentiment a day after the company posted a multi-fold increase in consolidated net profit in the July-September quarter of the current financial year.
The stock of FSN E-Commerce Ventures, which operates under the Nykaa brand, opened at Rs 1200 apiece on NSE, gaining 1.50 per cent. It made an intraday high of Rs 1210 but eased the gains quickly due to selling pressure. At 10:40 AM, the stock quoted Rs 1175, down 1 per cent from previous close of Rs 1185.40.
According to a filing on Tuesday, the company posted over 300 per cent jump in consolidated net profit at Rs 5.19 crore for the three months ended September. It had posted a net profit of Rs 1.17 crore in the same period a year ago. The consolidated revenue from operations increased 39 per cent to Rs 1,230.8 crore. In the year-ago period, the same stood at Rs 885.26 crore. The consolidated Gross Merchandise Value (GMV) of Nykaa grew 45 per cent year-on-year to Rs 2,345.7 crore.
Click here for more stock market updates I Zee Business
Post second quarter results, brokerages have given mixed reviews on the stock:
Nykaa Share Bonus News, Record Date
Nykaa share price has tanked around 30 per cent in the past 6 months and 10 per cent in one month. Post listing, the stock hit a record high of Rs 2573.70 on NSE on November 26 last year. Thereafter the stock started correcting and hit a record low of Rs 975 on Friday, 28 October 2022, sliding below the IPO issue price of Rs 1,125.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
01:45 PM IST