On Thursday, Nykaa share price opened sharply lower by 6.5% at ₹168.05 and declined as much as 7.15% to hit a low of ₹166.85. The shares currently trade 61% lower than its 52-week high of ₹2,574 on November 26, 2021.

Earlier this month, the cosmetics-to-fashion retailer posted a 333% year-on-year (YoY) jump in its consolidated net profit at ₹5.19 crore for Q2 FY23, compared with ₹1.17 crore in the same period last year. However, on a quarter-on-quarter basis, the net profit rose marginally by 3.6% from ₹5.01 crore in June quarter of the current fiscal.

The consolidated revenue from operations grew 39% YoY to ₹1,230.8 crore in Q2 FY23, against ₹885.26 crore in the year-ago period. On a sequential basis, the revenue climbed 7% from ₹1,148.4 crore in the June quarter of the current fiscal (Q1 FY23).

The earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 112% YoY to ₹61.1 crore, while EBITDA margin improved to 5% from 3.3% in Q2 FY22.

During the quarter under review, Nykaa, in partnership with Estee Lauder Group of Companies launched Beauty & You India, a first of its kind partnership to identify and support the next generation of beauty entrepreneurs in India with a non-equity grant and mentorship. It teamed up with HUL to launch HUL’s new science-based skin care brand 'Acne Squad’ at Nykaa. It has also partnered with the Apparel Group to undertake an omnichannel, multi branded retail operation business in Gulf Cooperation Council (GCC) on October 6, 2022.

As of September 30, 2022, Nykaa had a physical store count of 124 stores, including two new fashion stores, with a total area of 1.2 lakh square feet across 53 cities. It expanded its fulfilment centres to 14 cities, with a total area of 11.5 lakh sq. ft.

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