Nykaa reported a Rs. 175 million profit after tax in the third quarter of 2024 (Q3FY24) a significant hike from the previous quarter where its profit after tax stood at Rs. 133 million. The rise in profit looks particularly significant when compared to the same quarter last year where the profit after tax was Rs 85 million, signalling a 106% year-on-year growth in Q3FY24. "We have achieved profitability through improvement in fulfillment expenses, improved scale efficiencies on employee costs, and optimization of G and A [general and administrative expenses]," Nykaa’s chief financial officer P Ganesh explained. The company also reported an increase in net sales value (NSV, the sum of a company's gross sales minus its returns, allowances, and discounts) going from Rs 14983 in the previous quarter to Rs. 17,866 million this quarter, growing 24% year on year. Nykaa divided its earnings into three broad categories— beauty and personal care (BPC), fashion, and others (this includes its new businesses NykaaMan, B2B platform SuperStore by Nykaa, the content platform LBB and its wellness brand Nudge). Note: NSV (Net Sales Value) and GMV (Gross Merchandise Value). Beauty and personal care (BPC): Segment's performance: Just like the previous quarter, beauty and personal care continue to be the biggest part of Nykaa's business bringing in 78% of the net sales value of the company. While it dominates the business, its share of net sales has decreased from the previous quarter, in which it contributed 80% to the net sales value. Nykaa's CEO Falguni…
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