Nykaa on Friday said it expects its consolidated revenue growth to be in mid-twenties year-on-year, the company said through an exchange filing. It also added that it has witnessed success in this quarter due to its flagship event 'Pink Summer sale'.
Nykaa in the regulatory filing said, "Macro indicators of the Indian economy reflect a healthy trend which augurs well for the long-term health of the industry. GST collections continue to be robust, and inflation has started to moderate. Interest rates are also showing signs of stabilizing."
The company also said that despite overall discretionary spending slowdown, consumption in the Beauty and Personal Care (BPC) categories continued to remain strong, in line with longer term trajectory.
The company added, "Nykaa was witness to this with the success of this quarter flagship sale event ‘Pink Summer Sale’ during the quarter. Our BPC business NSV for the quarter is expected to grow in the early twenties YoY. This is supported by strong urban demand in the category."
Nykaa said that the apparel industry has been impacted due to discretionary slowdown during the quarter, especially in small towns. The company expects discretionary spending to improve with the revival of seasonal demand. It also said that despite the larger category trend, its Fashion business has witnessed relative resilience through gradual improvement in order volume with sustained AOV YoY. Nykaa Fashion NSV for the quarter is expected to grow in the low to mid-teens on YoY basis.
The shares of Nykaa on Friday at 10:59 am IST were at Rs 143.30, down by 0.49 per cent.