FSN E-Commerce Ventures (Nykaa) Q3 results: Net profit more than doubles to ₹63 crore, revenue up 27%

It posted a 141.55% year-on-year (YoY) surge in its consolidated net profit to ₹63.31 crore in the December quarter of FY26, compared to ₹26.12 crore in the corresponding period of the previous fiscal year.

Nykaa's revenue from operations advanced 26.73% YoY to ₹2,873.26 crore during the quarter under review, as against ₹2,267.21 crore in the Q3 of the 2024-25 fiscal year (Q3FY25).

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹230 crore for Q3 of FY26, reflecting a 63% YoY jump from ₹141 crore in the year-ago period.

Its EBITDA margin expanded to 8% in the third quarter of the current fiscal year, in comparison to 6.2% in the December quarter of FY25.

The firm’s gross merchandise value (GMV) grew 28% YoY to ₹5,795 crore in Q3FY26, in comparison to ₹4,528 crore in the same period last year.

Key highlights

Nykaa’s beauty segment delivered a GMV growth of 27% YoY to ₹4,302 crore, compared to ₹3,390 crore in Q3 of FY25, supported by sustained momentum across e-commerce, physical retail, and owned brands under the House of Nykaa, it said.

“The beauty business remains focused on driving penetration and premiumization, tapping into a multi-decadal growth opportunity by accelerating customer acquisition and retention,” Nykaa stated.

The cumulative beauty customer base stood at more than 42 million as of Q3FY26, reflecting a 30% YoY increase, while One Nykaa’s overall customer base crossed 52 million, reflecting a 31% YoY increase, across platforms.

Its fashion vertical witnessed a 31% YoY increase in its GMV to ₹1,476 crore for the reporting quarter, as against ₹1,130 crore in the December FY25 quarter, driven by higher engagement and operating leverage.

“Nykaa Fashion’s accelerated recovery in FY2026 is the direct outcome of a focused strategy centred on depth of assortment, marquee brand partnerships, and rising customer engagement,” the firm said.

Nykaa Fashion has a cumulative customer base of over 10 million, reflecting a 34% YoY growth, and orders crossing 3 million, up over 39% YoY, highlighting a broad-based recovery and a scalable, sustainable growth trajectory.

Commenting on the earnings, Falguni Nayar, Executive Chairperson, Founder and CEO of Nykaa, said: “Q3 FY2026 marked a record quarter for Nykaa, with our highest-ever GMV and EBITDA margin, while sustaining our long-term growth trajectory. Over a 13-year journey, Nykaa has evolved into a multi-platform lifestyle business addressing a $100bn+ beauty and fashion opportunity and serving over 52 million customers across One Nykaa.”

Nayar stated that the performance reflected steady execution against uts strategic priorities, as it continued to invest in assortment expansion, offline growth, and technology-led discovery, alongside a disciplined focus on efficiency, adding that “these foundations position us well for sustained, long-term growth.”

FSN E-Commerce Ventures has a total market capitalisation of ₹74,844.96 crore, as of February 5, 2026, according to data on the NSE.