Shares of Nykaa fell nearly 5% in trade today amid report that 1.4 crore shares of parent company FSN E-Commerce Ventures changed hands in a block deal today. Nykaa stock lost 4.77% to Rs 147.70 against the previous close of Rs 155.10 on BSE. Nykaa stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The scrip has lost 3.33 per cent in 2022 and fallen 55.3 per cent in a year. Market cap of the firm fell to Rs 42,640 crore on BSE. Total 8.66 lakh shares of the firm changed hands amounting to a turnover of Rs 13.12 crore on BSE.
Shares of Nykaa made a stellar listing on bourses on November 10, 2021, gaining 82 per cent to Rs 2,054 on NSE against the IPO issue price of Rs 1,125. Since listing, the stock has plunged over 92.71 per cent till date. The shares of the Nykaa parent company were sold by an undisclosed player at Rs 148.90 apiece to raise $26 million via a block deal, said reports.
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In the second quarter of the current fiscal, Nykaa logged a 344 per cent year-on-year increase in its net profit for Q2 FY23 period to Rs 5.2 crore. Consolidated revenue from operations climbed 39 per cent year-on-year to Rs 1,230 crore. Its profit before tax (PAT) grew 542 per cent on-year to Rs 8.8 crore in the second quarter. The consolidated gross merchandise value (GMV) grew 45 per cent year-on-year to Rs 2,345 crore, while its gross margin saw an uptick of 45.3 per cent in Q2 FY2023 as against 42.7 per cent in the same period last year.
Ahead of Q3 earnings, JM Financial said the December quarter growth for Nykaa will be led by the festive demand during holiday season, penetration in new channels and newer initiatives (eB2B superstore).
“We anticipate Nykaa to deliver 29 per cent YoY growth in GMV and 26 per cent YoY growth in revenue led by strong growth in fashion and new initiatives. With BPC business delivering strong operating leverage and company-wide lowering of fulfilment costs from regional centres, we expect overall Ebitda margin to improve 152 bps sequentially and 21 bps YoY,” JM Financial said.