FSN E-Commerce, the parent of online beauty and fashion retailer Nykaa, said that its consolidated net revenue growth in the September quarter is expected to be at the mid-20% level due to the early start to the festive season.
In addition, the company’s consolidated gross merchandise value (GMV) is expected to be close to 30% in the second quarter of FY26 as against the mid-20% growth it saw in the last few quarters. “This superior performance is driven by renewed growth in the fashion vertical and healthy performance of beauty vertical,” the company said in an exchange filing.
Nykaa’s beauty vertical is expected to post net sales value (NSV) and revenue growth in the mid-20s. House of Nykaa brands, including labels such as Nykaa Cosmetics, Kay Beauty, and Dot & Key, continue to see rapid growth.
Even the fashion vertical is expected to deliver NSV in the higher mid-20s in Q2 of FY26. “This is on the back of strong traction in core platform business, which was led by expanding brand assortment and robust customer acquisition,” the company said in its filing.
In the June quarter, Nykaa’s beauty vertical, the biggest revenue contributor, recorded a 26% rise in gross merchandise value (GMV) to Rs 3,208 crore. Similarly, its fashion vertical saw 25% on-year GMV growth in Q1FY26 to Rs 964 crore, accelerating from a 15% increase a year earlier.
The company also said that the recent goods and services tax (GST) cut by the government is likely to fuel demand.
Nykaa reported a 79% rise in fiscal first quarter consolidated net profit to Rs 24.47 crore, from Rs 13.64 crore a year earlier. Revenue from operations grew 23% year-on-year to Rs 2,155 crore in the three months ended June.
The platform ended the quarter with over 45 million customers, 250 offline stores in 82 cities and 9,000 brands, of which 400 were added in Q1.
In September, the company expanded its presence to the United Kingdom with the launch of its in-house brand, Kay Beauty, which is backed by Bollywood celebrity Katrina Kaif.
Source: www.economictimes.indiatimes.com