New Delhi, Beauty and fashion e-commerce firm FSN E-commerce Ventures, owner of O Nykaa brand, on Wednesday said it has reported nearly four times growth in net profit at Rs 9 crore for the March 2024 quarter with a consolidated net profit of Rs 9 crore.

The company had reported a net profit of Rs 2.27 crore in the January-March period a year ago, according to regulatory filings.

Consolidated revenue from operations grew by nearly 28 per cent to Rs 1,668 crore in the March quarter from Rs 1,302 crore in the March 2020 quarter.

For the year ending March 31, 2024, Nykaa reported profit of Rs 39.74 crore, an increase of 89.6 per cent from Rs 20.96 crore in financial year (FY) 2023.

Nykaa's annual revenue grew by nearly 24 per cent from Rs 5,143.8 crore in FY23 to Rs 6,385.62 crore in FY24.

Nykaa's gross merchandise value (GMV) grew 32 per cent year-on-year to Rs 3,217.2 crore, led by beauty and personal care segment at 6 per cent, fashion (26 per cent) and other segments at 7 per cent. ,

The company has increased its store count by 8.2 per cent to 187 units across India, which includes 79 Nykaa Ontrend stores, 67 Nykaa Luxe stores and Nykaa Kiosk luxury stores.