'Nykaa's Q2 2024 Revenue and Profit Surge, Led by Beauty Department Growth'
2024-12-07
According to its financial report, in the second quarter of 2024, Nykaa achieved significant growth in both revenue and profit.
The total revenue was 1.7461 billion rupees, a year-on-year increase of 23%; the net profit was 136.4 million rupees, a year-on-year increase of 152%.
Its beauty department contributed the most to the platform's growth, accounting for 90% of the overall revenue.
In recent years, the Indian beauty market has shown strong potential for development. A person in charge from Red Seer Consulting said that as of 2023,
the scale of India's online beauty market was about 150 million US dollars (approximately 1 billion yuan), and by 2025, the market size is expected to grow tenfold,
reaching 1.6 billion US dollars (approximately 11.6 billion yuan). In this trend, many international brands are mining India and competing for market share.
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