Nykaa Q1 profit more than triples as beauty, fashion and quick commerce scale

Nykaa reported Q1 FY27 net profit of ₹80 crore, up from ₹24 crore a year earlier, as GMV rose 34% to ₹5,590 crore. The retailer has 324 stores across 105 cities, is taking Nykaa Now beyond 13 cities, and has agreed to acquire a 51% stake in premium skincare brand Aminu.

— Source publishedTue, 4 Aug, 2026, 17:22 IST·First seen Tue, 4 Aug, 2026, 17:25 IST·Source Financial Express · BrandWagon

What happened

Nykaa’s Q1 FY27 profit more than tripled as beauty, fashion and margins accelerated. It expanded to 324 stores, grew Nykaa Now to 13 cities, and agreed to

Key facts

  • Q1 FY27 net profit: Rs 80 crore, versus Rs 24 crore year-on-year
  • GMV: Rs 5,590 crore, up 34% YoY
  • Revenue from operations: Rs 2,782 crore, up 29% YoY
  • Gross profit: Rs 1,276 crore, up 33% YoY; margin 45.9% versus 44.6%
  • EBITDA: Rs 236 crore, up 68% YoY; margin 8.5% versus 6.5%
  • Beauty GMV: Rs 4,105 crore
  • Retail footprint: 324 stores in 105 cities; retail space about 3.3 lakh sq ft, up 29% YoY
  • Fashion GMV: Rs 1,471 crore, up 53% YoY; NSV Rs 451 crore, up 54%
  • Nykaa Now: 13 cities; target of over 25 cities; 1,000+ brands; 30-60 minute delivery
  • House of Nykaa annualised GMV run rate: about Rs 3,758 crore, up 39% YoY; quarterly NSV Rs 550 crore, up 36%
  • Aminu stake acquired: 51%; FY26 revenue Rs 19 crore after eightfold growth over three years

Why this matters

The planned 51% acquisition of Aminu gives Nykaa a controlled entry into premium skincare, using its distribution, content and retail ecosystem to build higher-margin owned-brand exposure.

What to watch

  • Nykaa Now city additions, delivery-fee policy, average order value and evidence of repeat purchase frequency.
  • Quarterly EBITDA margin and fulfillment-cost trends as quick commerce and store expansion scale.
  • Beauty versus fashion GMV growth, contribution margin and customer acquisition cost.
  • Aminu revenue growth, distribution expansion, product launches and integration-related spending.
  • Same-store sales growth, new-store productivity and store-level payback periods.
  • Competitive beauty-category moves by Blinkit, Zepto, Swiggy Instamart, Amazon and Tata CLiQ.
  • Any rise in promotional intensity or inventory days that indicates demand normalization or margin pressure.
  • Expand Nykaa Now selectively into high-density cities where beauty order frequency can support last-mile economics.
  • Use the Aminu majority stake to build exclusive premium skincare bundles, retail-store discovery and omnichannel distribution.
  • Add stores in affluent tier-1 and tier-2 catchments while using stores as fulfillment, sampling and loyalty-enrollment hubs.
  • Increase assortment exclusivity and private-label penetration to defend against quick-commerce marketplaces and improve gross margin.
  • Prioritize profitability metrics for fashion and rapid delivery rather than pursuing GMV growth through broad discounting.