Nykaa’s quarterly profit rises 4x; Paytm’s losses widen

Despite the substantial jump in fourth-quarter profit, Nykaa’s earnings missed analysts’ estimates. Meanwhile, Paytm has warned that the “full financial impact” of RBI’s curbs would be clear in the June quarter.

On Wednesday, Nykaa parent FSN E-Commerce Ventures Ltd and fintech giant Paytm reported their financial results for the quarter ended March and the 2023-24 financial year. 

FSN E-Commerce Ventures reported a net profit of Rs 9.1 crore for the quarter ended 31 March 2024, a near 4x jump from its Rs 2.3 crore profit in the year-ago period. Its revenue from operations saw a 28% year-on-year rise to Rs 1,668 crore. 

Despite the substantial jump in fourth-quarter profit, Nykaa’s earnings missed analysts’ estimates of Rs 13.3 crore.  

Meanwhile, the gross merchandise value rose to Rs 3,217 crore, up 32% year-on-year. …

Author

Diti Pujara

Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.

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diti@mailtmc.com