FSN E-Commerce Ventures Ltd, which operates Nykaa, released its fiscal first quarter earnings report on Tuesday with a profit surge of 79.40 per cent to Rs 24.47 crore. It had posted profit at Rs 13.64 crore during the corresponding quarter of FY25. The company recorded revenue from operations at Rs 2,154.94 crore, posting a growth of 23.41 per cent as against Rs 1,746.11 crore recorded during the first quarter of previous financial year.
The company EBITDA stood at Rs 141.1 crore, up 49.6 per cent on-year. Nykaa delivered a strong Q1 performance, with consolidated GMV reaching Rs 4,182 crore, up 26 per cent YoY.
Falguni Nayar, Executive Chairperson, Founder and CEO, Nykaa said, “This quarter’s performance underscores Nykaa’s ability to consistently balance growth and profitability across both our beauty and fashion businesses. Our GMV for the quarter grew 26 per cent year-on-year to Rs 4,182 crore, supported by accelerated premiumization and deeper market penetration.”
Since the company’s IPO, Falguni Nayar added, Nykaa has consistently delivered mid-20s growth at a consolidated level. In terms of customer base, it now stands at 45 million.
Nykaa Q1: Performance across segments
Beauty business:
Nykaa’s Beauty vertical posted GMV growth of 26 per cent YoY to Rs 3,208 crore. This was supported by strong all-round performance across e-commerce, retail stores, eB2B distribution and House of Nykaa portfolio. The cumulative beauty customer base expanded to nearly 37 million in Q1FY26, reflecting a 29 per cent YoY increase. One Nykaa’s overall cumulative customer base is now over 45 million. Falguni Nayar said, “The House of Nykaa Beauty business also continues to scale rapidly, driven by successful new launches and strong consumer demand, now contributing 18 per cent of our overall beauty GMV—a clear testament to our brand-building strength.”
Beauty Multibrand Retail:
Nykaa’s offline retail network continues to remain a key growth and premiumization driver, achieving a milestone of 250 beauty stores across 82 cities as of July 2025. Total retail space grew 36 per cent YoY in Q1FY26 to 2.5 lakh+ sqft, supported by the rollout of larger-format experiential flagship stores. The profitable store network posted strong GMV growth of 33 per cent YoY.
House of Nykaa
House of Nykaa continues to deliver exceptional performance, now boasting an annualized GMV run rate of around Rs 2,700 crore, reflecting a strong 57 per cent YoY increase. Within this, the House of Beauty portfolio has scaled to an annualized GMV run rate of over Rs 2,300 crore with 70 per cent YoY growth.
Beauty eB2B: Superstore by Nykaa
In under four years, Superstore by Nykaa has grown into India’s largest B2B beauty distribution network, reaching over 3 lakh retailers in 1,100 cities. In Q1, GMV rose 40 per cent year-on-year to Rs 288 crore, supported by a wider brand range, deeper market reach, and rising premium sales. Profitability also improved sharply, with EBITDA margin up 5.15 percentage points and contribution margin up 3.09 points, helped by a better brand mix, greater efficiency in fulfillment and distribution, and more visibility income.
Fashion
Nykaa Fashion posted GMV growth of 25 per cent YoY to Rs 964 crore. EBITDA margin (as a percentage of NSV) improved significantly, narrowing from -9.2 per cent in Q1FY25 to -6.2 per cent in Q1 FY26. The core fashion platform saw a strong recovery, backed by enhanced customer engagement with 165 million visits (30 per cent YoY growth), an 8.5 million-strong customer base (up 32 per cent YoY), and over 2 million orders (19 per cent YoY growth).