FSN E-Commerce Ventures, the parent company of retailer Nykaa, reported a consolidated net profit up by more than 330 per cent to Rs 5.2 crore during the second quarter of the current fiscal (Q2 FY23), as compared to Rs 1 crore in the corresponding period a year ago. In Q2 FY23, the company reported a profit of Rs 5 crore.

Meanwhile, the company's revenue from operations rose over 39 per cent to Rs 1,230 crore from Rs 885 crore in the corresponding quarter of the previous fiscal, whereas it was up 7 per cent from Rs 1,148.4 crore quarter-on-quarter (QoQ).

The company claims that in the September quarter, it continued to demonstrate strong gross merchandise value (GMV) growth with an improvement in gross margin, while efficiency in fulfilment and marketing costs led to an improvement in EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin year-on-year (YoY). As of September 30, 2022, the company has 124 stores, including two new fashion stores, with a total area of 1.2 Lacs sq. ft. across 53 cities.

Earlier this month, the board of the company approved the issuance of bonus equity shares of the company in the ratio of 1:5, i.e., the company will issue a bonus of 5 shares for every 1 share held as on the record date. The company has revised its record date to November 11, 2022, for the purpose of determining members eligible for bonus equity shares.

Moreover, shares of the company rose more than 4 per cent to Rs 1,208 a piece on the BSE in Tuesday's afternoon deals. Since November last year, its debut on the stock market, the company has witnessed a plunge of more than 48 per cent in its share prices.