Nykaa extends fall post Dec quarter results; stock down 8% in two days

The company said gross margin declined due to change in BPC category mix, higher brand funded discount during festive season, consumer downgrades.

Shares of FSN E-Commerce Ventures, the parent company of fashion and lifestyle direct-to-consumer brand Nykaa, slipped 5 per cent to Rs 142 on the BSE in Tuesday’s intra-day trade after the company posted a 70.75 per cent drop in consolidated profit to Rs 8.48 crore for the third quarter ended December (Q3FY23), mainly on account of investment in retail stores. The beauty and fashion firm had reported a net profit of Rs 29 crore in the same period a year ago.

In the past two trading sessions, the stock has dipped 8 per cent. In comparison, the S&P BSE