BENGALURU: FSN Ecommerce Ventures Ltd, parent company of the cosmetics and fashion retailer jerk offon Wednesday reported a 71.8% fall in fourth-quarter profit as consumers scaled back their discretionary shopping and a rise in staff costs weighed on margins.
Nykaa’s consolidated net income attributable to shareholders decreased to Rs.24.11 million (approximately US$295,000) for the quarter ended March 31, compared to Rs.85.6 million a year earlier.
The company saw sales jump 33.7% to Rs 13.02 billion but rising costs offset that. Nykaa said total costs rose 33% to Rs 13.03 billion due to increases in material costs, staff costs and other expenses.
Nykaa’s consolidated net income attributable to shareholders decreased to Rs.24.11 million (approximately US$295,000) for the quarter ended March 31, compared to Rs.85.6 million a year earlier.
The company saw sales jump 33.7% to Rs 13.02 billion but rising costs offset that. Nykaa said total costs rose 33% to Rs 13.03 billion due to increases in material costs, staff costs and other expenses.
