Nykaa delivers strong Q2FY26 performance, consolidated Net revenue up 25% YoY, PAT rises 154% YoY

FSN E-Commerce Ventures Limited (referred to as "Nykaa" or the "Company"), today announced its financial results for the quarter ended September 30, 2025.

Financial Highlights:

Nykaa delivered a strong Q2 FY2026 performance, accelerating growth momentum from the previous quarter. Consolidated GMV reached Rs. 4,744 Cr, up 30% YoY, while revenue from operations rose 25% YoY to Rs. 2,346 Cr, supported by robust growth in the Beauty segment and a revival in Fashion. EBITDA grew 53% YoY, with the EBITDA margin expanding to 6.8% in Q2 FY2026 from 5.5% in Q2 FY2025. PAT increased by 154% YoY to Rs. 33 Cr, reflecting Nykaa's continued focus on profitable and sustainable growth.
Brief snapshot of quarterly financials below:

Q2 FY2026 Financial Highlights Summary:

- Consolidated GMV grew 30% to Rs. 4,744 Cr
- Revenue from Operations grew 25% YoY to Rs. 2,346 Cr in Q2 FY2026. This marks the 12th consecutive quarter of ~mid20s growth
- Gross Profit grew 28% YoY to Rs. 1,054 Cr in the quarter, highest gross margin in last 12 quarters
- EBITDA grew 53% YoY to Rs. 159 Cr
- EBITDA margins expanded to 6.8% in Q2 FY2026 vs 5.5% in Q2 FY2025, highest since IPO
- Net Profit for the period (PAT) was Rs. 33 Cr, up 154% YoY in Q2 FY2026

Speaking on this quarter's earnings, Falguni Nayar, Executive Chairperson, Founder and CEO Nykaa said, "Our performance this quarter reflects accelerated growth momentum across Nykaa, with each of our businesses contributing meaningfully to this trajectory. The Beauty business continues to deliver consistently, achieving over 25% GMV growth for several consecutive quarters. This quarter saw accelerated brand launches, particularly across Luxury and Korean Beauty, alongside the addition of 19 new stores, further strengthening our omnichannel presence. Through Nykaa Now, our rapid delivery model, we are able to deliver unparalleled convenience to consumers without compromising on assortment. Our House of Nykaa portfolio recorded an impressive 54% YoY GMV growth, driven by sustained momentum in our owned beauty brands, which continue to resonate deeply with consumers. The Fashion business delivered 37% YoY GMV growth, complemented by the introduction of globally trending brands this year such as GAP, Guess, and H&M, reinforcing our differentiated curation and growing appeal in premium fashion. Even our customer acquisition has accelerated, now with 49 million cumulative customer base across beauty & fashion. Strategically, this has been a pivotal quarter, one where our long-term growth pillars have translated into near-term acceleration, underscoring the strength and scalability of the Nykaa ecosystem.

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 245.95 as compared to the previous close of Rs. 245.45. The total number of shares traded during the day was 393189 in over 10504 trades.

The stock hit an intraday high of Rs. 247.70 and intraday low of 241.95. The net turnover during the day was Rs. 96596543.00.

Source : Equity Bulls

Keywords

FSNECommerceVentures Nykaa Q2FY26 H1FY26 ResultUpdate