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Revenue from operations jumped 22% YoY to Rs 1,789 crore in the reporting third quarter as against Rs 1463 crore in the corresponding quarter of previous year.
EBITDA for the quarter increased by 26% YoY to Rs 98.8 crore in the December quarter. EBITDA margins expanded to 5.5%, showing a growth of 26% YoY driven by direct and indirect costs efficiencies.
During the quarter, Nykaa had rolled out the ESOP grants, which is part of employee expenses. Adjusted for ESOP and new business expenses, EBITDA margin would have been 6.1%.
The gross merchandise value (GMV) for the quarter rose 20% YoY to Rs 761 crore.
Segment wise, the consolidated BPC (beauty and personal care) GMV witnessed a growth of 25% YoY. NSV (net sales value) growth stood at 20% YoY primarily due to higher discounting by brands in mass and masstige segment.Physical retail footprint continues to expand with 39 new stores launched over the last 4 quarters, totaling 174 stores as of December 2023. The retail business now contributes to over 9% of the overall BPC GMV, which is reflected in EBITDA improvement of 35% YoY.This fashion GMV saw a strong growth of 40% YoY led by a surge across all metrics. The annual unique transacting customer (AUTC) grew at 23% YoY to 2.9 million and the order growth was at 19% YoY
The average order value for the fashion segment increased 18% YoY during the quarter. Nykaa said the fashion business is showing consistent improvement in profitability.
Contribution margin as a percentage to NSV for Nykaa Fashion improved by 510 bps and stood at 6% in the third quarter, supported by strong improvement in marketing expenses.
New businesses at Nykaa, which include the distribution business (Superstore by Nykaa), Nykaa Man, international, content-led platform LBB and the wellness brand Nudge, clocked an NSV of Rs 131 crore in the third quarter.
The distribution business NSV growth came in at 88% YoY during Q3FY24. Within 2 years of launch, Superstore scaled up over 31x on GMV and now serves almost 1.5 Lakhs transacting retailers across 950 cities as of December 2023.
On Tuesday, Nykaa shares were down 0.56% to settle at Rs 160 on NSE.
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