In a notable market move, shares of FSN E-commerce, the parent company of Nykaa, experienced a significant uptick of nearly 4 percent during the opening trade on the NSE on January 9. This surge followed closely on the heels of the company’s Q3 business update, where the stock registered a 2 percent increase, closing at Rs 177.
As of 9:48 am on January 9, the stock was trading at Rs 182.05, reflecting the positive investor sentiment triggered by Nykaa’s impressive quarterly performance.
According to the Q3 business update from FSN E-commerce Ventures, Nykaa Fashion demonstrated robust growth in Q3 FY24, maintaining the momentum from the preceding quarter.
The Fashion vertical’s Gross Merchandise Value (GMV) for the quarter is anticipated to witness a substantial 40 percent growth, while the Net Sales Value (NSV) is expected to see growth in the low thirties on a year-on-year basis. At a consolidated level, the company projects a mid-twenties growth in Net Sales Value (NSV) and low-twenties growth in revenue for Q3 FY24, reinforcing Nykaa’s stronghold in the competitive e-commerce landscape.
