Nykaa’s share price jumped back in the green on Thursday after the company posted its earnings for the March quarter in the after-market hours on Wednesday.
What Happened: The omnichannel retailer’s revenue from operations grew 33.74% to ₹1,301.72 crore as compared to the ₹973.32 crore revenue it booked in the March quarter of 2022. Net profits for the review period saw a 71.83% year-over-year slump at ₹2.41 crore.
Gross merchandise volume witnessed a 36% YoY growth in the March quarter to go up to ₹2,445.4 crore. The beauty and fashion retailer’s EBITDA for the quarter stood at ₹70.69 crore up a massive 83.53% from the year-ago period. EBITDA margin stood at 5.4%.
See Also: When Will Nykaa Share Price Go Up?
The company’s flagship beauty and personal care segment saw orders grow 22% to 88 lakhs as against 72 lakhs in the same quarter last year. The average order value stood at ₹1,803. The fashion vertical received 12 lakh orders as against the 10 lakh orders the company reported in the March quarter of 2022. The average order value stood at ₹4,653.
Brokerages had a mixed reaction to the company’s results. Morgan Stanley maintained its ‘overweight’ rating for the stock with a price target of ₹188. BofA Securities also maintained its ‘buy’ rating for the stock with a price target of ₹175.
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On the other hand, JP Morgan maintained its ‘underweight’ rating for the stock with a price target of ₹125. Goldman Sachs assigned a ‘neutral’ call to the stock with a target price of ₹175.
Price Action: Nykaa’s share price was up 1.56% to trade at ₹126.95 in the early hours of trading on Thursday.
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