Nykaa’s parent company reports strong Q1 FY2026 growth, with GMV and net revenue in the mid-twenties.
| Photo Credit:
Nikita Ann Varghese 11514@Chennai
FSN E-Commerce Ventures Limited, which operates the Nykaa platform, reported consolidated net revenue growth at the lower end of mid-twenties for Q1 FY2026, with GMV growth crossing mid-twenties, the company announced on July 6, 2025.
The shares of FSN E-Commerce Ventures Limited were trading at ₹201.97 up by ₹3.74 or 1.89 per cent on the NSE today at 10.10 am.
The beauty vertical delivered GMV growth in higher mid-twenties despite disruptions from geopolitical tensions that affected sentiment during the quarter’s flagship sale, causing some business losses. Net revenue for the beauty segment is expected to grow in mid-twenties, consistent with previous quarters.
Performance was driven by solid results across all business segments, including the e-commerce platform, retail stores, eB2B distribution, and House of Nykaa brands. The company’s private label portfolio continued its accelerated growth trajectory with strong performance from both home-grown and acquired brands.
The fashion vertical showed marked improvement with GMV growth of mid-twenties, a significant uptick from previous quarters. This was attributed to improving traction in the core platform business, supported by expanding product assortment and robust customer acquisition. However, fashion’s net revenue growth is expected to improve sequentially to mid-teens, remaining lower than GMV growth.
Nykaa currently serves 42 million customers through its online platforms and operates 237 offline beauty destinations as of March 31, 2025. The company has expanded its presence to the Middle East through its omnichannel beauty platform, Nysaa.
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Published on July 7, 2025
