Nykaa Q2 FY26 Earnings Results: Net Profit Jumps Over 3x; EBITDA Margins Expanded Highest Since IPO

FSN E-Commerce Ventures Limited (Nykaa) announced its consolidated unaudited financial results for the quarter and half-year ended September 30, 2025. The beauty and fashion e-commerce platform delivered exceptional growth across all profitability metrics, driven by strong revenue expansion and operational leverage improvements in the direct-to-consumer segment.

Nykaa Q2 FY26 Earnings Results

For the quarter ended September 30, 2025, Nykaa achieved consolidated revenue from operations of ₹2,346 crore, registering robust growth of 25% YoY. Profit after tax stood at ₹34.43 crore, demonstrating outstanding growth of 243% YoY.

Nykaa Half-Year FY26 Results

For the half year ended September 30, 2025, consolidated revenue reached ₹4,501 crore, up 24% from ₹3,621 crore in H1 FY25. Profit after tax came to ₹57.75 crore, up 193% from ₹19.68 crore in H1 FY25. 

EBITDA Margin Highest Since IPO 

Nykaa reported a strong quarter with its Gross Merchandise Value (GMV) rising 30% year-on-year to ₹4,744 crore. Revenue from operations grew 25% YoY to ₹2,346 crore, driven by robust momentum in the Beauty segment and a revival in Fashion. EBITDA increased 53% YoY, with margins improved to 6.8% in Q2 FY2026 from 5.5% in Q2 FY2025, the highest since IPO. 

Segment Performance Analysis

The beauty segment delivered strong performance with Q2 FY26 revenue of ₹2,132 crore, up 25% YoY from ₹1,703 crore. The fashion segment reported revenue of ₹201 crore, recording growth of 21% compared to ₹166 crore in Q2 FY25.

FSN E-Commerce Ventures Share Price Performance

On November 7, 2025, FSN E-Commerce Ventures share price opened at ₹246.14 on NSE, near the previous close of ₹246.14. During the day, it surged to ₹247.74 and dipped to ₹241.85. The stock closed at ₹245.87 by the end of the day. The stock registered a marginal change of -0.11%.

Over the past week, it has declined by 1.68%, over the past month, it has declined by 6.91%, and over the past 3 months, it has moved up by 17.14%.

Conclusion

Nykaa demonstrated exceptional consolidated performance in Q2 and H1 FY26 with PAT, driven by operational efficiency improvements, strong customer demand across beauty and fashion segments, and successful scaling of its direct-to-consumer platform.

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