Nykaa’s net profit grew 207% year–on-year (YoY) in the second quarter to 1.01bn rupees (US$10.75m), supported by strong momentum in its beauty business.
Revenue at the Indian retailer and brand owner grew 28% to 30.06bn rupees in the three months to the end of September.
Nykaa’s beauty division gross merchandise value (GMV) stood at 44.54bn rupees in the quarter, including e-commerce, retail stores, eB2B distribution and the House of Nykaa beauty portfolio.
Net sales value (NSV) in Nykaa’s beauty division grew 28% YoY in the second quarter, and earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up 51% YoY.
Accelerated customer acquisition and premiumisation of existing customers boosted Nykaa’s beauty business, while House of Nykaa “continued to outperform, supported by strong innovation”, the company said in a statement.
Nykaa has also added to its beauty portfolio with the acquisition of SimplyNam, the premium colour cosmetics brand founded by celebrity makeup artist Namrata Son.
“Our performance this quarter reflects the strength of the Nykaa ecosystem, with each of our businesses contributing to growth and productivity gains,” said Falguni Nayar, Executive Chairperson, Founder and CEO of Nykaa,
“We continued to improve operational efficiency, particularly across marketing and overheads.
“Beauty and fashion are seeing accelerated growth, while House of Nykaa and wellness offer significant runway for long-term growth.
“We remain focused on building differentiated businesses that serve our consumers and deliver sustainable growth over the long term.”
Nykaa opened 14 new stores in six cities in the quarter, bringing its retail footprint to 338 stores.
Recent retail launches include French skin care brand Yves Rocher, hair care brands Oribe and &honey, as well as K-beauty brands Mamonde, Mediheal and Purito Seoul, bringing the number of new brand launches this year to 330.
Meanwhile, on-demand delivery service Nykaa Now launched in August in 15 cities and will expand to 25 by the end of the 2027 financial year.
