Revenue from operations jumped 39.04% to Rs 1230.83 crore in quarter ended 30 September 2022 from Rs 885.26 crore recorded in the corresponding quarter previous year.

Consolidated profit before tax surged to Rs 8.76 crore in Q2 FY23 as against Rs 1.37 crore posted in the same period last year.

During the quarter, Nykaa continued to demonstrate strong GMV (gross merchandise value) growth with improvement in gross margin, efficiency in fulfilment and marketing cost lead to improvement in EBITDA margin YoY, the company said.

Consolidated GMV grew 45% YoY to Rs 2,345.7 crore in Q2 FY23.

Gross profit surged 45% YoY to Rs 557.7 crore in Q2 FY23 at a margin of 45.3%, up 259 bps YoY. EBITDA zoomed 112% year on year (YoY) to Rs 61.1 crore in Q2 FY23. EBITDA margin improved to 5% in Q2 FY23 as compared with 3.3% reported in the same quarter a year ago.

Beauty and Personal Care (BPC) GMV grew 39% YoY to Rs 1,630.1 crore in Q2 FY23. Fashion GMV surged 43% YoY to Rs 599.1 crore in Q2 FY23. Fashion GMV contributed 26% to consolidated GMV in quarter ended 30 September 2022.

Annual Unique Transacting customers in BPC vertical grew 31% YoY to 9.1 million, and in Fashion vertical soared 66% YoY to 2.1 million as at 30 September 2022.

Order volume in BPC vertical was up by 39% YoY to 8.4 million in Q2 FY23.

Falguni Nayar, executive chairperson, MD, and CEO, said, “Our business has delivered sustainable, strong growth, while investing in capabilities for the future. Our online and offline presence in Beauty has delivered strong growth with improving margins. There has been structural improvement in fulfilment costs as we move to regional warehouses. Post covid, our accelerated investments in new store rollouts as well as store upgradation has resulted in improved footfalls and higher same store sales. Consumer demand for premium beauty, personal care and wellness is showing signs of buoyancy as we gear up for a promising H2 FY23.”

“We're committed to building a unique customer proposition in Fashion; aided by investments in a differentiated product, collaborations with global brands and expansion in the breadth & depth of our owned brand portfolio. Our merchandise partnership with ‘Revolve' provides us access to a successful ecosystem that has proven capabilities. Our focus on curation and discovery in Fashion is evident, as new season merchandise accounted for 24% of Nykaa Fashion GMV; international brands are at 13% of western wear category GMV in Q2 FY23. Repeat buyers in Fashion now contribute 66% of Q2 FY23 GMV, giving us confidence in our product proposition. Digital marketing costs for the fashion business are slightly higher than during covid period, resulting in marketing costs sustaining at Q2 FY22 levels,” she stated.

Nayar further added, “We are investing in growth engines of the future, particularly SuperStore by Nykaa. The International business which includes the venture we have with the Alliance Group in the GCC, is promising. True to the Nykaa way, each of these efforts is towards building the business model in a sustainable manner.”

Founded in 2012, Nykaa is one of India's leading lifestyle-focused consumer technologies platforms. It offers over 4,500 brands and over 4.6 million product SKUs through its website and mobile applications.