![Nykaa shares plunge 11% post Q1; here’s why](https://images.assettype.com/fortuneindia%2F2022-02%2F7b0d534e-a460-4335-8566-dc5fe3a373ab%2FNykaa_copy.jpg?rect=0,0,1324,662&w=300&q=95)
Nykaa shares plunge 11% post Q1; here’s why
The consolidated net profit attributable to equity shareholders of parent fell 27% to ₹3.3 crore as compared to ₹4.55 crore in the same period a year ago.
The consolidated net profit attributable to equity shareholders of parent fell 27% to ₹3.3 crore as compared to ₹4.55 crore in the same period a year ago.
The profit before tax and revenue from operations of the fashion e-retailer rose 48% and 34% YoY, respectively.
Several foreign funds including Segantiii India Mauritius, Lighthouse India Fund, and Citigroup have sold their stake in Nykaa after the pre-IPO lock-in period expired on November 10.
The largecap stock witnessed sharp selling today as investors were waiting for the listing of bonus shares after the lock-in period ended on November 10.
On a sequential basis, Nykaa’s profit grew by 3.6%, while revenue rose 7%; stock jumped 25% in two sessions on earnings optimism