New Delhi: India’s e-commerce platform for makeup goods, Nykaa, on May 24, reported a fall by 71.83 per cent year-on-year to Rs 2.4 crore for the March quarter of the financial year 2023. The company’s consolidated revenue hiked by 33.75 per cent to Rs 1,301 crore for the fourth quarter.
Nykaa’s EBITDA margin improvised by 3 basis points quarter-on-quarter to 5.4 per cent. Its EBITDA rose up to 84 per cent to Rs 70.6 crore for the quarter.
The company further reported its tax revenue of Rs 4.35 crore during the quarter, during the same period last year it reported a tax benefit of Rs 1.76 crore.
At the time of the Financial year 2023, the company’s revenue from operations hiked to Rs 5,144 crore from Rs 3,774 crore in the financial year 2022 which concluded a jump of more than 36 per cent.
Annual profit was seeing declining by 53 per cent to Rs 19.26 crore.
Nykaa’s shares performance lately
The share price of Nykaa declined over 2% during early trade on May 24 looking upon the release of the firm’s March quarter endings.
The stock price declined by 2.14 per cent to Rs 125.55 per share on the BSE.
“We believe cost control measures are likely to aid EBITDA margin expansion of 120 bps YoY (flat QoQ). We estimate EBITDA to grow 73% YoY and PAT to grow 4% YoY,” ICICI Securities said.
“Q4 is historically a weak quarter for Nykaa. In our view, the management’s decision to activate a new sale event in Q4FY23E was to counter these headwinds. We estimate overall GMV to grow 38% YoY (-11.3% QoQ) led by 30% YoY GMV growth (-13.8% QoQ) in BPC segment and 43% YoY growth (-5% QoQ) in fashion segment,” it added.