Nykaa Parent FSN E-Commerce Ventures Reports Robust Q2 FY26 Results with 30% GMV Growth and 154% Net Profit Surge

FSN E-Commerce Ventures, operating its popular platform Nykaa, has reported an impressive set of financial results for the quarter ended September 2025. The company's consolidated Gross Merchandise Value (GMV) saw a substantial 30% year-on-year (YoY) increase, reaching Rs 4,744 crore. Revenue from operations grew by 25% YoY to Rs 2,346 crore. Gross profit also climbed 28% to Rs 1,054 crore, hitting a 12-quarter high. Operating profitability significantly improved, with EBITDA growing by 53% YoY to Rs 159 crore and margins expanding to 6.8% from 5.5% a year ago. The net profit recorded a remarkable surge of 154% YoY, amounting to Rs 33 crore.

Falguni Nayar, Executive Chairperson, Founder and CEO, stated that the performance reflects accelerated growth across all Nykaa businesses, with the Beauty segment consistently delivering over 25% GMV growth for several quarters. This quarter saw an acceleration in brand launches, especially in luxury and Korean beauty, alongside the addition of 19 new stores, enhancing its omnichannel presence. The beauty vertical itself achieved 28% YoY GMV growth to Rs 3,551 crore, bolstered by its House of Nykaa portfolio which grew GMV by 54% YoY. The fashion business also experienced a revival, with a 37% YoY GMV increase, aided by the addition of global brands like GAP, Guess, and H&M. Nykaa also expanded its rapid-delivery model, Nykaa Now.

For the first half of the financial year 2026 (H1 FY26), revenue rose 24% YoY to Rs 4,501 crore, and profit doubled to Rs 57 crore.

Impact This news is highly positive for FSN E-Commerce Ventures and its investors. The strong growth in GMV, revenue, and especially net profit, along with expanding margins, signals robust consumer demand and effective business execution. It boosts investor confidence in Nykaa's business model and its ability to grow both its beauty and fashion segments, potentially leading to a favorable stock market reaction. The expansion into new brands and physical stores further strengthens its market position. Rating: 7/10

Difficult Terms Explained GMV (Gross Merchandise Value): The total value of merchandise sold through an e-commerce platform over a given period, before deducting fees, returns, or discounts. YoY (Year-on-Year): A comparison of financial or operational data from a specific period against the same period in the previous year. EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a company's operating performance. H1 FY26: The first half of the Financial Year 2025-2026, typically covering the period from April 1, 2025, to September 30, 2025. House of Nykaa: Refers to Nykaa's portfolio of owned or exclusive in-house beauty brands. Omnichannel: A retail strategy that integrates various channels of shopping, such as online stores, physical stores, mobile apps, and social media, to provide a seamless customer experience.