Nykaa's Stellar 79% Profit Surge Fuels Market Gains

FSN E-Commerce, parent of fashion and beauty retailer Nykaa, saw its shares climb over 5% after announcing a 79% increase in quarterly net profit for June. The company's strong performance was driven by a rise in income, particularly from its beauty and fashion segments, highlighting its growth strategy.

Shares of FSN E-Commerce, the parent company of beauty and fashion retailer Nykaa, soared by over 5% following the firm's announcement of a substantial 79% rise in net profit for the June quarter.

The stock advanced 4.93% to finish at Rs 215.05 per share on the BSE, peaking at Rs 220.75 during the session. Meanwhile, on the NSE, the shares increased by 5.15% to Rs 215.18.

Contributing to the company's market valuation surge of Rs 2,899.11 crore, FSN E-Commerce reported its income growth was predominantly fueled by a nearly 24% rise in its beauty division's revenue, accompanied by a 15% boost in fashion sales, reflecting its robust business strategy.

(With inputs from agencies.)