Nykaa Reports ₹2,061.8 Crore Revenue in Q4 FY25, Up 23.6% YoY

Nykaa, India’s leading beauty and fashion retailer, ended Q4 FY25 on a high note with an impressive 23.6% year-on-year rise in revenue. FSN E-Commerce Ventures Ltd, Nykaa’s parent company, reported revenue of ₹2,061.8 crore for the quarter ended 31 March 2025, compared to ₹1,668 crore during the same period last year (Q4 FY24). This growth reflects strong consumer demand, improved margins, and the brand’s expanding reach across both digital and physical retail.

Profit Nearly Triples on Strong Demand

Nykaa’s net profit nearly tripled to ₹20.3 crore in Q4 FY25, up from ₹7 crore a year earlier (Q4 FY24). The growth came on the back of upbeat demand and disciplined cost control. The company’s EBITDA also saw a healthy 43% increase, rising to ₹133.4 crore from ₹93.3 crore last year, with margins improving to 6.47% from 5.59%. These numbers show that Nykaa has not only grown in scale but has also become more efficient.

Consumer Momentum Driving GMV Growth

Gross Merchandise Value (GMV), a key indicator of overall sales performance, rose 27% year-on-year in Q4 FY25 to ₹4,102 crore. For the entire fiscal year (FY25), GMV grew 25% to ₹15,604 crore, indicating strong consumer interest across categories. Nykaa’s wide range of beauty, wellness, and fashion offerings continues to attract a loyal and growing customer base.

Strong Performance Across Brands and Channels

Nykaa’s own beauty brands under the “House of Nykaa” umbrella saw strong traction. Dot & Key recorded over ₹900 crore in GMV. Nykaa Cosmetics achieved over ₹350 crore in GMV, while Kay Beauty, co-created with actress Katrina Kaif, crossed ₹240 crore and entered new international markets.

Its B2B platform, Superstore by Nykaa, also made remarkable progress, with GMV rising 57% YoY to ₹941 crore in FY25. It now caters to over 276,000 retailers across 1,100 Indian cities and towns, making it the largest beauty B2B platform in the country.

Nykaa Fashion and Strategic Moves

Nykaa Fashion, which had faced earlier headwinds, posted a recovery in Q4 with an 18% YoY rise in GMV. Full-year revenue increased by 19%, and EBITDA margins improved to -8.3% from -10.3%, signalling better cost control and product mix optimisation.

The company also executed key structural changes, including the demerger of its eB2B business into Nykaa E-Retail and the merger of its content platform LBB into Nykaa Fashion. These changes aim to create a more focused and consumer-friendly platform.

FSN E-Commerce Ventures Share Price Performance

As of May 30, 2025, shares of FSN E-Commerce Ventures Limited closed at ₹203.25 on the Bombay Stock Exchange, marking a slight drop of ₹1.40 or 0.68% for the day. Despite the minor dip, the company’s market capitalisation remained strong at ₹58,123 crore, reflecting continued investor confidence in Nykaa’s growth story.

Looking Ahead

Nykaa ended the year with over 42 million customers and continues to be the gateway for global beauty brands entering India. Backed by solid financials and a clear growth strategy, Nykaa is well-positioned to lead the next phase of India’s beauty and fashion retail evolution.

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