Nyakaa's parent company, FSN E-Commerce Ventures shares surged more than 5 per cent on NSE (national Stock Exchange) after company revealed in Q3 busines update expection of 25 per cent revenue growth.
The shares of FSN E-Commerce went on to touch the day high level of Rs 176.60 per share on the Indian bourses after hitting the opening bell at Rs 175.09 per share on the exchanges.
FSN E-Commerce shares were trading around Rs 175.94 per share on the exchanges with a surge of 4.83 per cent amounting to Rs 8.10 per share on the bourses.
Quaterly busines update
In its quarterly business update released on January 5, FSN E-Commerce Ventures and its subsidiaries stated that they anticipate consolidated net revenue growth to be 'higher than mid-20s.' This suggests that revenue growth is anticipated to be between more than 25 per cent and less than 30 per cent.
In the stock exchange filing, Nykaa stated, 'This is higher than the consolidated GMV (gross merchandise value) growth for the same period, indicating positive trend in GMV to net revenue translation.'
Revenue growth exceeded mid 20s
Nykaa stated in its business update that its net revenue growth exceeded the mid-20s and that its beauty vertical growth has accelerated in comparison to the previous quarters.
Beauty verticals growth in low 30s
The beauty vertical's GMV growth is anticipated to be in the low 30s, indicating robust momentum across all of its beauty-related businesses, including owned brands, retail locations, e-commerce platforms, and e-business-to-business distribution.
According to Nykaa, customer acquisition was also speeding up. Currently, Superstore by Nykaa, an eB2B distribution company, serves over 1,100 cities and about 260,000 transacting retailers.
