In the beauty and personal care segment, Nykaa saw GMV growing 26% YoY to ₹1,901.4 crore in Q3 FY2023. While the monthly average unique visitors grew 22% YoY to 24.2 million, annual unique transacting customers rose 27% to 9.6 million, the company said, adding that the orders in this category grew 26% YoY to 9.5 million in Q3.

In the fashion segment, Nykaa saw GMV growing at 50% YoY to ₹724.4 crore in Q3 FY2023, which contributed 25.9% to consolidated GMV in the said quarter. Orders in the category grew 31% YoY to 1.7 million, while order conversion improved to 1.2% in Q3 FY2023. "Fashion Contribution Margin has been positive in the quarter," the company said.

As of December 31, 2022, Nykaa has increased its own physical store count to 141 stores, including three newly owned fashion stores, with a total area of 1.4 lakh sq. ft. across 56 cities, the company said, adding that it also has a total of 40 fulfilment centres across the country.

The company said its board has approved the appointment of Sujeet Jain as company secretary and compliance officer, in addition to his role as a chief legal and regulatory officer at Nykaa. With this, Jain becomes key managerial personnel of Nykaa from February 14, 2023. Prior to Nykaa, Jain was the chief legal officer with UltraTech Cement. Rajendra Punde, who previously held this role, will continue to be associated with Nykaa as senior vice president-legal and will support the transition and strengthening of the function.

Ahead of the quarterly results, the Nykaa stock closed 3.26% down at ₹149.65 after surging to the intra-day high of ₹156.40 on the BSE. The stock is trading 61.70% down from its listing day price; has fallen ₹40.37% in the year-ago period; and has fallen 35.45% in the six-month period.

Nykaa shares have witnessed a surge in selling activities after the lock-in period for pre-IPO investors ended on November 10, 2022, even after the company issued bonus shares. Following the expiry of the lock-in period, private equity firm Lighthouse India, TPG Capital, Narotam Sekhsaria, and Mala Gaonkar offloaded their stake in the company through block deals, while Morgan Stanley, Aberdeen Standard Asia Focus, Canada Pension Plan Investment Board, and Norges Bank brought shares in the company.

Nykaa Q3 profit

Nykaa Q3 revenue at ₹1,789 cr helped by festivals, weddings

Nykaa Q3 profit falls 68%; revenue up 33%