Nykaa Q1 profit triples as revenue rises 29%; fashion reaches EBITDA-positive
Nykaa reported Q1 revenue from operations of ₹2,782 crore, up 29.1% year on year, while PAT rose to ₹79.8 crore from ₹24.5 crore. EBITDA increased 67.8% to ₹236.1 crore, with margin expanding to 8.5%. The company also approved a 51% stake acquisition in Aminu Wellness for up to ₹32 crore.
What happened
Nykaa’s Q1 revenue rose 29.1% to ₹2,782 crore and PAT more than tripled to ₹79.8 crore. Beauty drove growth, Fashion became EBITDA-positive, and Nykaa approved
Key facts
- Q1 revenue from operations: ₹2,782 crore, up 29.1% YoY from ₹2,154.9 crore
- Profit after tax: ₹79.8 crore, versus ₹24.5 crore
- Profit before tax: ₹129.2 crore, versus ₹43.7 crore
- EBITDA: ₹236.1 crore, up 67.8%
- EBITDA margin: 8.5%, versus 6.5%
- Finance costs: ₹26.7 crore, versus ₹30.2 crore
- Acquisition: 51% stake in Aminu Wellness for up to ₹32 crore
- NSE share price: ₹342.50, down 0.70%
- Shares gained over 60% in the past year
Why this matters
Nykaa’s planned 51% acquisition of Aminu Wellness for up to ₹32 crore adds a targeted wellness portfolio while preserving a relatively disciplined deal size.
What to watch
- Whether revenue growth remains near 25%+ while EBITDA margin holds above 8%.
- Fashion segment revenue growth, contribution margin and whether EBITDA positivity persists for consecutive quarters.
- Beauty gross-margin movement, advertising revenue growth and mix of owned/private-label brands.
- Evidence that Aminu Wellness contributes incremental wellness sales and distribution synergies without raising acquisition or integration costs.
- Customer-acquisition cost, repeat-order trends, discount intensity and competitive actions from Amazon, Myntra, Tira and quick-commerce platforms.
- Inventory days, fulfillment costs and working-capital conversion as scale increases.
- Increase emphasis on beauty and wellness-owned brands, including cross-selling Aminu Wellness products through Nykaa's online, retail-store and content channels.
- Use fashion's EBITDA-positive milestone to selectively invest in customer retention, private labels, seller assortment and fulfillment rather than pursuing broad discount-led growth.
- Expand higher-margin revenue streams such as marketplace advertising, brand partnerships, premium beauty launches and omnichannel services.
- Focus investor communication on the durability of EBITDA margin expansion, fashion contribution margins and cash returns from acquisitions.