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Nykaa Slumps 11% In Early Trading On Q1 Earnings Miss; Brokerages Divided On The Stock

Kotak Institutional Equities downgraded Nykaa shares to ‘add’ rating, while Bernstein cut its price target on the shares to INR 140

Key Highlights: After Top-Level Exits & Cutting Costs, How Did Nykaa Perform In Q1?

Here are the key takeaways from listed beauty ecommerce giant Nykaa’s financial results for the first quarter of the financial year 2023-24.

Nykaas net profit down 27% to Rs 3 3cr, revenue up 24% in Q1

Nykaas net profit down 27% to Rs 3 3cr, revenue up 24% in Q1
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Nykaa s net profit down 27% to Rs 3 3cr, revenue up 24% in Q1

Online beauty and fashion e-commerce major Nykaa on Friday reported a 27 per cent year-on-year decline in consolidated net profit at Rs 3.3 crore in the first quarter of FY24.FSN E-Commerce Ventures, the parent company of Nykaa, had posted a .

Nykaa loses sheen: Q1 net profit falls 27% YoY to Rs 3 3 crore hurt by dip in demand

Nykaa s results come at a time when it has been hit by a slew of top-level exits. Since April, six senior executives, including company s chief marketing officer, Shalini Raghavan, among others, have quit the company

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