Nykaa Q2 Results: Net Profit Surges 243% to ₹34.43 Crore

Market Performance

The Indian stock market today witnessed modest gains, with investors reacting positively to Nykaa’s impressive Q2 results. Nykaa’s parent company, FSN E-Commerce, closed the day slightly higher at ₹246 per share on the BSE, touching an intraday high of ₹247.70 and a low of ₹241.95.

Strong Quarterly Performance for FSN E-Commerce

FSN E-Commerce reported a remarkable jump in consolidated net profits for the July–September quarter of FY26.

• Net profit: ₹34.43 crore, up 243% YoY from ₹10.04 crore in Q2 FY25
• Sequential growth: 48% from ₹23 crore in Q1 FY26
• Revenue from operations: ₹2,345.98 crore, up 25% YoY from ₹1,874.74 crore
• Quarter-on-quarter growth: 9%, rising from ₹2,155 crore in Q1 FY26

The numbers reflect Nykaa’s consistent focus on expanding its core operations, particularly the Beauty and Fashion segments, which drove topline growth in Q2.

GMV Growth and Segment Performance

The company’s consolidated Gross Merchandise Value (GMV) surged 30% YoY to ₹4,744 crore. Key contributors:

• Beauty segment GMV: ₹3,551 crore, up 28% YoY
• Fashion business GMV: 37% YoY growth, fueled by trending international brands like GAP, Guess, and H&M
• House of Nykaa portfolio GMV: 54% YoY growth, showcasing strong traction for in-house beauty brands

The results underline Nykaa’s expanding omnichannel presence and its ability to engage millions of consumers across e-commerce and physical retail.

Operational Highlights

Nykaa’s operations saw robust improvements in profitability and efficiency:

• EBITDA: Up 53% YoY
• EBITDA margin: 6.8%, up from 5.5% YoY

The company accelerated brand launches, particularly in Luxury and Korean Beauty, and added 19 new stores, strengthening its rapid delivery and omnichannel model through Nykaa Now.

Business Segments in Focus

Beauty Business:

The Beauty segment drove most of the revenue growth, supported by proprietary brands under the House of Nykaa.

Fashion Business:

The Fashion vertical recorded significant GMV growth, driven by premium international brands, expanding Nykaa’s appeal in India’s fashion market.

Superstore & eB2B:

The Superstore by Nykaa segment achieved an annualized GMV run rate of over ₹1,100 crore, reflecting deepening market penetration in Tier 2 and Tier 3 cities.

Company Footprint

Nykaa’s integrated approach, combining in-house brands with curated international labels, helped serve more than 16 million customers during Q2 FY26. The company is steadily enhancing its omnichannel approach, combining fast-paced e-commerce growth with the expansion of its physical retail network.

Summary

Nykaa’s Q2 FY26 results highlight its rapid growth in Beauty and Fashion, strong operational efficiency, and expanding market presence. A 243% surge in net profit, coupled with robust GMV growth, reflects a thriving e-commerce ecosystem for FSN E-Commerce. Revenue expansion, margin improvement, and continued brand launches indicate sustained momentum across segments, making Q2 a standout quarter for Nykaa.