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Nykaa’s Stock Surges 6% Following Impressive Q1 Performance; Net Profits Soar 152% Year-on-Year | Market Update

FSN E-Commerce Ventures, the parent company of popular beauty and personal care brand Nykaa, witnessed a significant surge in its stock price on the BSE, climbing as much as 5.76 percent to Rs 197.35 per share during Wednesday’s intraday trade. This spike came on the heels of the company’s impressive financial performance in the first quarter of the financial year 2024-25 (Q1FY25), which was reported on Tuesday.

The company reported a net profit of Rs 13.6 crore for the quarter ending June 30, 2024, marking a substantial 152 percent increase from the same period last year when it stood at Rs 5.4 crore. Moreover, FSN E-Commerce Ventures recorded an operating revenue of Rs 1,746 crore for the quarter, reflecting a 23 percent growth from Rs 1,422 crore in the corresponding quarter of the previous year.

In comparison to the preceding quarter, Q4 FY24, the company’s revenue and profit figures for Q1 FY25 were Rs 1,668 crore and Rs 9 crore, respectively. This performance was in line with the company’s earlier projection of a year-on-year revenue growth of around 22-23 percent for the first quarter of the fiscal year.

Despite the strong financial results, FSN E-Commerce Ventures acknowledged that the growth in its physical retail business was somewhat subdued due to external factors such as elections and heat waves in North India. However, the company is actively working to bolster its portfolio by increasing its stake in Dot & Key, a cosmetics brand under its umbrella.

Currently holding a 51 percent stake in Dot & Key, FSN E-Commerce Ventures intends to acquire an additional 39 percent from the brand’s promoters, thereby raising its total ownership to 90 percent by September 30, 2024. The acquisition is estimated to cost Rs 265.3 crore, with Dot & Key generating Rs 198 crore in revenue for the fiscal year 2024.

Despite the initial surge in stock price, FSN E-Commerce Ventures saw a slight decline in its share value, with the stock trading 0.40 percent lower at Rs 185.85 per share on the BSE at 09:48 AM. In comparison, the BSE Sensex experienced a 0.14 percent increase, reaching 79,067 levels.

FSN E-Commerce Ventures is primarily engaged in the manufacturing, selling, and distribution of a wide range of beauty, wellness, fitness, personal care, health care, skin care, and hair care products. These products are retailed through various channels, including online platforms like e-commerce and m-commerce, as well as offline stores and stalls. The company had launched an initial public offering (IPO) worth Rs 5,352 crore in late October 2021.

In conclusion, FSN E-Commerce Ventures‘ robust financial performance, strategic acquisitions, and diversified product portfolio position it as a key player in the competitive beauty and personal care industry. Investors and industry analysts will be closely monitoring the company’s future growth trajectory and market developments.

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