Nykaa Expects Nearly 30 pc Net Revenue Growth in Q1 on Strong Fashion Sales

FSN E-Commerce Ventures, the owner of the Nykaa brand, on Sunday projected a consolidated net revenue growth of nearly 30 % for the first quarter of FY2026-27, to be led by a sharp acceleration in its fashion business.

According to a regulatory filing, the company expects its consolidated Gross Merchandise Value (GMV) and Net Sales Value (NSV) to grow in the "early thirties" on a year-on-year basis for the quarter ended June 30, 2026.

"Nykaa’s Fashion vertical has started FY2027 on a notably stronger footing, with NSV growth expected to be in mid-fifties, marking a sharp acceleration from previous quarters. The Fashion business continues to see improvement in GMV to NSV funnel, supported by reduction in leakages," the company said.

Nykaa attributed the growth of its core platform business to a wider brand assortment and recent marketing investments, which it said translated into new customer acquisitions. Meanwhile, the flagship beauty segment is projected to grow in the "late twenties".

The company's physical store count stood at 324 at the end of June.

Nykaa reported a multifold jump in consolidated net profit to ₹ 78.75 crore for the March quarter of FY26, mainly driven by sales in the beauty segment and narrowing of losses in the fashion vertical.

Nykaa's revenue from operations increased by about 28 % to ₹ 2,648.17 crore during the quarter.

For the year ended March 31, 2026, Nykaa's net profit surged nearly threefold to ₹ 203.94 crore from ₹ 72.07 crore in fiscal year (FY) 2025. The company's annual revenue from operations grew 26 % to ₹ 10,022.35 crore during the same period.