Nykaa reports a 96 percent drop in Q2 net profit after a record listing.

Fashion and cosmetics online retailer Nykaa’s net profit fell 96 percent to Rs 1.1 crore in the September quarter on a year-on-year basis and 69 percent, compared with the June quarter.
The company said its gross profit margin improved 345 basis points to 39.3 percent in the September quarter, compared with the corresponding quarter of the previous financial year.
The fashion segment’s contribution to consolidated GMV increased to 27 percent in Q2FY22, compared with 14 percent in Q2 of 2020-21.