Nykaa's Q3 profit almost doubles; what should investors do?

ZeeBiz Desk

Feb 07,2024

Lifestyle e-commerce platform Nykaa reported a 97.55% rise in its consolidated profit to Rs 16.18 crore for December 2023 against Rs 8.19 crore in the corresponding quarter of the previous year.

The company's revenue from operations rose 22.28% to Rs 1,788.79 crore in the quarter under review from Rs 1,462.82 crore a year ago, according to a regulatory filing.

Here's what brokerages recommend on Nykaa

Macquarie maintains 'underperform'

Gives a target of Rs 135.

Jefferies continues with a 'buy' call

Cuts the target to Rs 210 from Rs 230.

Morgan iterates 'overweight' rating

Cuts the target to Rs 192 from Rs 197.

HSBC iterates a 'buy' call

Cuts the target to Rs 240 from Rs 250.