13 Feb , 2023 By : Monika Singh
FSN E-Commerce, the parent company of Nykaa, reported a 68% on-year fall in its net profit to Rs 9.2 crore for the third quarter of the current fiscal, as compared to Rs 29 crore in the year-ago period. The revenue from operations jumped 33% to Rs 1462 crore from Rs 1098 crore in the same period the previous year. On Monday ahead of the quarterly results, Nykaa shares closed 2.68% lower at Rs 150.55. Falguni Nayar’s company’s expenses jumped 36% on-year to Rs 1455 crore in the October-December quarter of the ongoing financial year as compared to Rs 1067 crore in the last year’s corresponding quarter.
The Beauty and Personal care (BPC) segment’s GMV rose 26% on-year to Rs 1901.4 crore in Q3 FY2023. Monthly Average Unique Visitors rose 22% on-year to 24.2 million, while Annual Unique Transacting Customers grew 27% to 9.6 million. Orders grew 26% on-year to 9.5 million in the quarter, while Order Conversion improved to 3.8% in Q3 FY2023. The Fashion segment’s GMV grew 50% on-year to Rs 724.4 crore in the third quarter of the current financial year. Fashion GMV contributed 25.9% to consolidated GMV this quarter. Monthly Average Unique Visitors grew 18% on-year to 19.4 million, while Annual Unique Transacting customers grew 50% on-year to 2.4 million. Orders grew 31% on-year to 1.7 million, while Order Conversion improved to 1.2% in the October-December quarter.
“There’s been a structural improvement in fulfilment expense as we move to regional warehouses. Our marketing efforts are focussed on the order-conversion ratio, rather than chasing visits alone, which is reflective of the highest-ever conversions of 3.8% in BPC, and 1.2% for Fashion in Q3FY23,” said Falguni Nayar, Executive Chairperson, MD, and CEO Nykaa.
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