FSN E-Commerce Ventures Limited, the parent company of beauty and fashion platform Nykaa, reported a sharp jump in profitability for the April-June 2026 quarter, with net profit rising 226 per cent year-on-year to ₹80 crore. Revenue from operations grew 29 per cent to ₹2,782 crore, the highest growth rate in 13 quarters, as both its beauty and fashion verticals accelerated simultaneously.
EBITDA came in at ₹236 crore, up 68 per cent from ₹141 crore in the same period last year, with the margin expanding 196 basis points to 8.5 per cent of revenue. Gross profit rose 33 per cent to ₹1,276 crore, with margins improving to 45.9 per cent from 44.6 per cent a year ago. The company’s profit before tax surged 195 per cent to ₹129 crore.
The stock closed at ₹342.50 on Tuesday, down 0.70 per cent from its previous close of ₹344.90, even as it sits near its 52-week high of ₹344.90 touched on August 3. The scrip has gained nearly 61 per cent over the past year and trades at a trailing price-to-earnings ratio of 484.
Gross merchandise value across the company’s platforms rose 34 per cent to ₹5,590 crore. The beauty segment posted GMV of ₹4,105 crore, up 28 per cent, while the fashion segment recorded GMV of ₹1,471 crore, a 53 per cent jump. Fashion’s net sales value grew 54 per cent year-on-year to ₹451 crore, driven by customer acquisition growth of 44 per cent, an enriched brand portfolio, and the company’s partnership with Nike to operate Nike.in and the Nike app in India. Fashion also turned EBITDA positive for the first time, posting a margin of 0.1 per cent.
The beauty business delivered an EBITDA margin of 10.3 per cent, up 128 basis points year-on-year, supported by the Pink Summer Sale, which drew over 35 million unique visitors, and double-digit same-store sales growth in retail. The company added 11 new stores in the quarter, taking its total to 324 stores across 105 cities.
House of Nykaa, the company’s owned-brands portfolio of 13 consumer labels, crossed an annualised NSV run rate of ₹2,200 crore, growing 36 per cent year-on-year. Dot & Key, Kay Beauty, and Nykaa Cosmetics led the portfolio. The company also agreed to acquire a 51 per cent stake in premium dermocosmetic skincare brand Aminu for ₹32 crore, a deal expected to close in Q2FY27.
Return on capital employed improved to 26.8 per cent on an annualised basis, up from 21.2 per cent in FY26, reflecting tighter working capital management and operating leverage across the business.
Published on August 4, 2026
