Nykaa shares in focus after Q2 update points to GMV growth in the 'thirties'
Published on 06/10/2025 06:50 AM
Nykaa shares in focus after Q2 update points to GMV growth in the 'thirties'Nykaa said the recent GST reforms are a welcome step as they are expected to increase disposable income and drive long-term growth across several consumer and discretionary categories.By Shloka Badkar October 6, 2025, 6:50:51 AM IST (Published)2 Min ReadShares of FSN E-Commerce Ventures Ltd., the parent company of Nykaa, are in focus on Monday, October 6, after the company reported its business update for the second quarter the previous night.
The company said Nykaa has delivered a "healthy performance" with consolidated net revenue growth expected to be in mid-20s in the second quarter compared to last year, aided by an early start to the festive season.
Growth momentum accelerated in the September quarter, with the consolidated gross merchandise value (GMV) growth expected to be close to thirties, compared to mid-twenties in the previous few quarters. This was driven by renewed growth in the fashion vertical and healthy performance in the beauty vertical, it said.
Nykaa expects its beauty vertical to deliver net sales value (NSV) and revenue growth to be in mid-twenties, for the 10th consecutive quarter. Acquired brands such as Dot & Key and homegrown brands such as Kay Beauty and Nykaa Cosmetics continue to drive rapid growth for Nykaa brands, the company said.
Its fashion vertical is looking at NSV growth of higher mid-twenties. Its net revenue growth is expected to improve to low-twenties from low-to-mid-teens in the last few quarters. It added that the net revenue growth for Nykaa Fashion is lower than NSV growth because of lag in advertising and marketing income.
Nykaa said the recent GST reforms are a welcome step as they are expected to increase disposable income and drive long-term growth across several consumer and discretionary categories.
Nykaa shares ended the previous session 1.1% lower at ₹238.62 apiece.
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