Nykaa shares gain on strong Q2 sales, full-year outlook (Markets/stocks/News) (Page 4)

Omnichannel beauty and fashion retailer Nykaa said it expects net sales value (NSV) to rise nearly 25% in the second quarter (Q2) and revenue to grow 20% year on year (YoY), closely mirroring its performance in the first quarter of financial year 2024, according to a stock exchange filing on the BSE on Friday.

Nykaa shares climbed 1.5% to ₹149.15 on the BSE on Thursday on the news. The shares are still way below their November 2021 listing price of ₹1,125.

“Overall, the first half of FY24 performance sets up Nykaa well for the year with the second half historically witnessing superior consumer demand,” the company said in the filing.

This growth was supported by the success of its flagship event, ‘Hot Pink Sale’, in July.

The beauty and personal care (BPC) segment is the biggest contributor to Nykaa’s revenue. “Our BPC business NSV for the quarter is expected to grow around twenty percent on YoY basis,” the company said in the stock exchange filing.

Nykaa Fashion has optimised its core product categories along with an improvement in order volumes. It expects the net sales value of the fashion vertical to grow by approximately 30% year-on-year in the second quarter.

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