29 Sep , 2022 By : Monika Singh
Cosmetics and fashion retailer Nykaa on Wednesday said the company’s board will meet on October 3 to consider and approve the issuance of bonus shares to its existing shareholders.
“We wish to inform you that a meeting of the board of directors of the company will be held on Monday, October 3, to interalia, consider and approve the issuance of bonus shares to the equity shareholders of the company in the ratio, as it may deem fit and seeking shareholders’ approval by way of postal ballot and such other approval(s), as the board may deem appropriate,” a regulatory filing by the company to the stock exchanges said.
Bonus shares are additional shares given to the current shareholders of the company without any additional cost, based upon the number of shares a shareholder owns. These are the company’s accumulated earnings, which are not given out in the form of dividends, but are converted into free shares.
During the April-June quarter, Nykaa posted a 43% year-on-year jump in its net profit to Rs 5 crore, against Rs 3.52 crore in the same period a year ago.
Consolidated revenue from operations during the period increased 41% to Rs 1,148.42 crore during the period, while operating margin stood at 4%, up 70 basis points.
The company’s gross merchandise value grew 47% on year to Rs 2,155 crore during the quarter. Within the business, Nykaa’s beauty and personal care segment saw GMV grew 39% year-on-year to Rs 14,88 crore, while the fashion segment’s GMW grew 59% on year to Rs 582 crore.
On Wednesday, FSN E-Commerce Ventures’, Nykaa’s parent firm, shares closed at Rs 1,277.35 apiece on the BSE , down 0.8% from previous day’s close.
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