Nykaa Q1 profit jumps 2.4x as EBITDA margin reaches 8.5%; approves Aminu stake

Nykaa reported Q1 revenue of Rs 2,782 crore, up 29% year on year, while net profit rose 243% to Rs 80 crore. EBITDA grew 68% and margin expanded 200 bps to 8.5%. Fashion NSV grew 54%, and the board approved a 51% stake in skincare brand Aminu for up to Rs 32 crore.

— Source publishedTue, 4 Aug, 2026, 16:35 IST·First seen Tue, 4 Aug, 2026, 16:57 IST·Source NDTV Profit

What happened

Nykaa posted strong Q1 growth, with profit rising 243%, revenue up 29% and EBITDA margin expanding 200 bps. Fashion led category momentum, while the company

Key facts

  • Q1 consolidated net profit Rs 80 crore, up 243.3% YoY from Rs 23.3 crore
  • Revenue from operations Rs 2,782 crore, up 29% YoY from Rs 2,155 crore
  • EBITDA Rs 236 crore, up 67.8% YoY from Rs 140.7 crore
  • EBITDA margin 8.5%, up 200 bps from 6.5%
  • Overall GMV growth 34%
  • Fashion NSV growth 54%
  • Beauty NSV growth 29%
  • Board approved acquisition of 51% of Aminu for up to Rs 32 crore

Why this matters

The approved 51% Aminu acquisition gives Nykaa a controlled entry into a skincare brand that can deepen its beauty assortment and platform-led brand incubation strategy.

What to watch

  • Whether EBITDA margin holds above 8% through festive and promotional quarters.
  • Fashion growth conversion into contribution profit rather than discount-led GMV/NSV expansion.
  • Aminu revenue growth, distribution expansion and any acquisition-related margin or impairment impact.
  • Marketing spend as a percentage of revenue and repeat-customer/order-frequency trends.
  • Competitive pricing and delivery investments by marketplaces, beauty specialists and quick-commerce platforms.
  • Management guidance on additional brand acquisitions, store expansion and capital allocation.
  • Integrate Aminu into Nykaa’s online, physical-store and influencer-led distribution network while preserving premium brand positioning.
  • Increase cross-selling of beauty, personal care and fashion to improve customer lifetime value and reduce marketing cost per order.
  • Use stronger profitability to selectively expand owned brands, premium skincare partnerships and omnichannel store presence.
  • Prioritize fashion contribution-margin improvement as rapid NSV growth raises fulfillment, returns and discounting exposure.