Nykaa profit down over 90%, stock slides

Online beauty retailer Nykaa reported profit of Rs 1.2 crore for the quarter ending September, 2021, down 95% from Rs 27 crore reported last year. Revenues however grew a healthy 47% to Rs 885.3 crore. 

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Profit came under pressure as Nykaa's operating expenses grew 92% to Rs 349.4 crore, led by a 286% increase in marketing and advertisement expense to Rs 121.4 crore.

FSN E-commerce Ventures, the parent company of Nykaa made its debut on the bourses last week and saw its shares nearly double on the first day to close at Rs 2,207 from its issue price of Rs 1,125.