Nykaa Q1 FY23 Results: PAT drops 46.8% to ₹45.5 Cr but Income up 17.5% to ₹1,156 Cr QOQ, GMV grew 47% YoY

GMV grew 39% YoY to ₹ 14,888 million in Q1 FY2023 Annual Unique Transacting customers grew 33% YoY to 8.6 million as at June 30, 2022 Orders grew 40% YoY to 8.1 million in Q1 FY23 Fashion GMV contributed 27% to Consolidated GMV in Q1 FY23 Annual Unique Transacting customers grew 99% YoY to 2.0 million as at June 30, 2022 Fashion contribution margin has been positive and grew by 90 bps sequentially in Q1 FY23

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Nykaa is an Indian e-commerce company, founded by Falguni Nayar in 2012 and headquartered in Mumbai. It sells beauty, wellness and fashion products across websites, mobile apps and 100+ offline stores. In 2020, it became the first Indian unicorn startup headed by a woman.

FSN E-Commerce Ventures (Nykaa) has posted its Q1 FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

Nykaa Q1 results 2022 reported, a consolidated Total Income of ₹1,156.78 crore in the quarter ended on June 30, 2022 as against ₹984.45 crore in the last quarter ended on Mar 31, 2022, increased by 17.50%.

The company has posted a consolidated Net Profit of ₹45.50 crore in the quarter ended on March 31, 2022 as against ₹85.60 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 46.84%.

The status of the EPS of the company stood at ₹0.10 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹0.18, down by 44.45%.

₹*June 30, 2022 (Q1 FY23)Mar 31, 2022 (Q4 FY22)
Total Income1,156.78984.45
Total Expenses1148.44978.64
PBT /(Loss)8.345.81
Total Tax /(credit)2.65(1.76)
PAT /(Loss) [to the owners]45.5085.60
*figures are in Crores

(II) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹1,156.78 crore in the financial year ended on June 30, 2022 as against ₹821.71 crore for the same quarter ended on last year June 30, 2021 that increased by 40.77%.

Q1 results 2022 of FSN E-Commerce Ventures (Nykaa) shows a consolidated Net Profit of ₹45.50 crore in the financial year ended on June 30, 2022 as against ₹34.15 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 33.23%.

The status of the EPS of the company stood at ₹0.10 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹0.07, up by 42.85%.

₹*June 30, 2022 (Q1 FY23)June 30, 2021 (Q1 FY22)
Total Income1,156.78821.71
Total Expenses1148.44818.56
PBT /(Loss)8.343.14
Total Tax /(credit)2.65(0.37)
PAT /(Loss) [to the owners]45.5034.15
*figures are in Crores

Nykaa

(III) Key Highlights about the Performance :

  • GMV (?) grew 47% YoY to ₹ 21,558 million in Q1 FY23
  • Revenue from Operations grew 41% YoY to ₹ 11,484 million in Q1 FY23
  • Gross Profit grew 54% YoY to ₹ 5,099 million in Q1 FY23. Gross margin as a percentage to Revenue from Operations increased to 44.4% in Q1 FY23 against 40.6% in Q1 FY22
  • EBITDA grew 71% YoY to ₹ 461 million in Q1 FY2023. EBITDA margin as % of Revenue from Operations improved to 4.0% in Q1 FY23 against 3.3% in Q1 FY22, led by improvement in gross margin and efficiency in fulfilment expense
nykaa Q1FY23 result

Beauty and Personal Care (BPC): Focus on customer acquisition and order volume

  • GMV grew 39% YoY to ₹ 14,888 million in Q1 FY2023
  • Annual Unique Transacting customers grew 33% YoY to 8.6 million as at June 30, 2022
  • Orders grew 40% YoY to 8.1 million in Q1 FY23

Fashion: Strong Sequential growth while maintaining focus on conversion

  • GMV grew 59% YoY and 21% QOQ to ₹ 5,820 million in Q1 FY23
  • Fashion GMV contributed 27% to Consolidated GMV in Q1 FY23
  • Annual Unique Transacting customers grew 99% YoY to 2.0 million as at June 30, 2022
  • Fashion contribution margin has been positive and grew by 90 bps sequentially in Q1 FY23

Nykaa Q1 FY23 Results

The stocks of FSN E-Commerce Ventures last hit in BSE,

  • Intraday High of ₹ 1447.10
  • Intraday low of ₹ 1403.00
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