FSN Ecommerce Ventures reports strong Q4FY26 earnings with revenue rising 28.4 per cent and Ebitda margin touching a record 8.4 per cent
FSN Ecommerce Ventures, the parent company of beauty and fashion platform Nykaa, posted a strong performance for the fourth quarter of FY26 on 21 May, aided by sustained demand across its beauty and personal care portfolio.
The company’s consolidated net profit surged to Rs 78.38 crore in the March quarter, compared with Rs 20.28 crore in the corresponding period last year, registering a 286 per cent year-on-year rise. Sequentially, profit also improved from Rs 63.31 crore recorded in the December quarter of FY26.
Revenue Growth Remains Strong
Nykaa’s consolidated revenue from operations rose 28.4 per cent year-on-year to Rs 2,648.17 crore during the quarter under review, against Rs 2,061.76 crore in the year-ago period. The growth was primarily driven by strong traction in the beauty segment. However, on a quarter-on-quarter basis, revenue declined marginally from Rs 2,873.26 crore, according to the company’s exchange filing.
Beauty Business Drives Growth
The beauty vertical, which remains the company’s largest contributor to revenue, recorded a 27.2 per cent increase in revenue to Rs 2,409.94 crore during the quarter. Meanwhile, Nykaa’s fashion business delivered stronger momentum, with revenue rising 40 per cent to Rs 225 crore.
Ebitda Margin Hits Record High
The company said Ebitda increased 67 per cent year-on-year to Rs 223 crore in Q4FY26. Ebitda margin expanded to 8.4 per cent from 6.5 per cent in the corresponding quarter last year, marking the highest quarterly margin reported by the company so far.
GMV Growth Continues
Consolidated gross merchandise value (GMV) rose 28 per cent year-on-year to Rs 5,241 crore in the March quarter. Nykaa has now maintained mid-20s GMV growth for 14 consecutive quarters.
For the full financial year, consolidated GMV grew 28 per cent to Rs 19,963 crore. The beauty vertical’s GMV increased 27 per cent year-on-year to Rs 14,954 crore.
Falguni Nayar, Executive Chairperson, Founder and Chief Executive Officer of Nykaa, said, “Crossing the USD 1 billion revenue milestone, along with a track record for profitability and capital efficiency, marks a defining moment in Nykaa’s 14-year journey and reflects the deep trust consumers place in us. Over the past three years, Nykaa has evolved into a multi-engine growth platform, with our Beauty & Fashion businesses doubling their GMV, while our newer businesses like Superstore and House of Nykaa have grown 4X during the same period.”
