Nykaa expects Q1 revenue to grow in mid-twenties

FSN E-Commerce Ventures, parent company of Nykaa expects its consolidated revenue to grow in the mid-twenties for the April-June quarter of the current financial year.

The company in a regulatory filing stated that the consumption in the beauty and personal care (BPC) categories continue to remain strong, in line with its longer-term trajectory.

Additionally, the company expects its fashion vertical to improve with the revival of seasonal demand.

“Our BPC business net sales value (NSV) for the quarter is expected to grow in the early twenties year-on-year. This is supported by strong urban demand in the category,” Nykaa said in its quarterly update.

“Despite the larger category trend, our fashion business has witnessed relative resilience through gradual improvement in order volume with sustained AOV YoY. Nykaa Fashion NSV for Q1FY24 is expected to grow in low to mid-teens on-year. For Q1FY24, revenue at a consolidated level is expected to grow in the mid-twenties YoY,” it added.

Founded in 2012 by Falguni Nayar, Nykaa offers over 4,500 brands through its retail stores, website, and mobile applications.