 "Nykaa logo")
Nykaa reported a 50.28 per cent jump in its consolidated net profit in the quarter that ended on September 30 to Rs 7.80 crore, as compared to Rs 5.19 crore in the same quarter last year. However, as compared to Rs 5.42 crore in the previous quarter, the net profit was up 43.91 per cent.
The company's revenue from operations was up 22.44 per cent to Rs 1,507 crore during the quarter under review against Rs 1,230.8 crore last year. In the previous quarter, it had reported revenue from operations of Rs 1,421.8 crore. This is a rise of 5.99 per cent.
The total income for Q2FY24 came in at Rs 1,515.6 crore, compared to Rs 1,237.3 crore year-on-year (y-o-y), registering a rise of 22.49 per cent. On a quarter-on-quarter (q-o-q) basis, the total income was up 6.09 per cent. It was Rs 1,428.5 crore in Q1FY24.
Since April this year, six executives, including the marketing head of Nykaa, have resigned. Those who resigned include chief marketing officer (CMO) Shalini Raghavan, with Nykaa's founder and chief executive officer (CEO) Falguni Nayar stepping up to take direct oversight of that function. The others who have quit are Kingshuk Basu, a senior vice president (VP) for retail; Sumant Kasliwal, senior VP in the fashion unit; Aditya Sandhu from the business-to-business sales unit; VP Sachin Kataria from the e-commerce business; and Shantanu Prakash, VP for marketing and communications.
The Nykaa stock closed at Rs 147.45 on November 6.
