Beauty firm Nykaa's Q3 net profit falls 59% to Rs 28 cr

Revenue from operations rose 36% to Rs 1,098 crore

Cosmetics-to-fashion retailer Nykaa on Wednesday reported a 59% slump in quarterly net profit, hit by a jump in expenses and subdued demand for personal care and fashion products.

In its second earnings report since a blockbuster market debut last year, Nykaa's parent company FSN E-Commerce Ventures Ltd said total costs surged 46.8% year-on-year to Rs 1,067 crore, including a big jump in employee benefits expenses.

Nykaa in November posted a 96% slump in quarterly profit in its first post-IPO earnings report.

Founded in 2012 by former investment banker Falguni Nayar, the company became popular by selling cosmetics and grooming products