Beauty and fashion firm FSN E-commerce, which operates Nykaa, recorded a 110% jump in profit after tax (PAT) for the fourth quarter of FY25, at Rs 19 crore, as compared to Rs 9 crore in the same quarter previous fiscal. Net profit, however, missed Bloomberg estimates of Rs 26.63 crore.
Revenue from operations for the quarter stood at Rs 2,062 crore, up 24% from Rs 1,688 crore in Q4FY24, also missed the street estimates of Rs 2,077.09 crore.
The company reported a 43% year-on-year rise in Ebitda at Rs 133 crore, which was slightly ahead of Bloomberg estimates of Rs 131.2 crore. Ebitda margin for the quarter was 6.5%, up 88 basis points, while PAT margin was up 38 basis points, at 0.9%.
Consolidated GMV (gross market value) for the quarter stood at Rs 4,102 crore, up 27% from Q4FY24, driven by 31% growth in the beauty and personal care (BPC) segment.
Beauty segment GMV grew to Rs 3,058 crore from Rs 2,338 crore in the March quarter, while fashion segment GMV grew 18% during the same period at Rs 1,037 crore, as it came out of an industry-wide slowdown in the segment this year, the company said.
Revenue from the BPC segment grew 25% to Rs 1,895 crore and fashion segment revenue grew 11% to Rs 161 crore in Q4FY25.
Nykaa’s cumulative customer base grew 28% annually to 42 million during FY25, the company said.
Annual unique transacting customers grew 27% to 15.8 million in Q4FY25 as against 12.4 million in Q4FY24. The total number of orders in the quarter was up 22% on-year at 14.2 million.
During the quarter, the company added 16 new physical stores to expand its pan-India footprint to 237 stores. The physical stores recorded a 31% growth in GMV annually, and a 15% y-o-y growth in same store sales. The management added that the offline store network is profitable.
Beauty GMV across Nykaa’s owned brands (as part of its house of brands strategy) rose 72% y-o-y to Rs 526 crore, led by Dot & Key, Nykaa Cosmetics, and Kay Beauty.
The fashion brands owned by Nykaa saw a comparatively muted performance with a 5% y-o-y growth, though the company noted that these brands got significantly better traction on Nykaa platforms, where they grew 38% annually.
“We are revamping our channel mix for these brands as we have seen that they perform better on Nykaa platforms. So in FY25, we had limited focus on GT/MT (general trade/modern trade) outlets and focused on Nykaa online and offline stores,” Adwaita Nayyar, CEO and executive director, Nykaa Fashion, said.
Capex for FY25 was at Rs 128 crore, mainly towards physical store footprint expansion and technology development.