Nykaa Q2 Updates: Revenue Growth to Sharply Rise, GMV Expected Near 30% on Early Festive Season, Fashion Boost

E-commerce major Nykaa expects a sharp pickup in revenue growth for Q2 FY26 (July-September 2025), fuelled by an early festive season and a rebound in its fashion business. In a stock exchange filing, FSN E-Commerce Ventures Ltd., the parent company of Nykaa projected consolidated gross merchandise value (GMV) growth to be "close to thirties," up from the mid-twenties range in recent quarters.

Nykaa Q2 Updates: Beauty Segment Continues to Drive FSN E-Commerce Ventures's Core Revenue

Nykaa's beauty business remains the company's primary growth driver, with both net revenue and net sales value (NSV) expected to rise in the mid-twenties during Q2 FY26. This will mark over 10 consecutive quarters of consistent growth in the beauty vertical. Nykaa attributed this strength to the performance of its "House of Nykaa" brands, including Kay Beauty, Nykaa Cosmetics, and the acquired skincare brand Dot & Key.

Nykaa Fashion Sees Growth Momentum Rebound in Q2

After a few slow quarters, Nykaa's fashion vertical is witnessing renewed momentum. The NSV growth for fashion is projected to reach the higher mid-twenties, supported by a broader brand assortment and strong customer acquisition on its platform.

Net revenue growth is expected to improve to the low twenties, up from low-to-mid teens in previous quarters. The difference between NSV and revenue growth is due to a delay in the recognition of advertising and marketing income.

Nykaa highlighted that its growth is in line with the robust performance of the overall e-commerce sector. The early start to India's festive shopping season has significantly boosted online retail platforms.

Nykaa's Q1 FY26 Performance Showed Strong Profit and Revenue Growth

Nykaa's momentum in Q2 comes after a solid performance in the first quarter of FY26. For the April-June period, the company posted a 142% year-on-year increase in net profit, reaching Rs 23.3 crore, while revenue from operations rose 23% to Rs 2,155 crore. The beauty vertical grew 24%, and fashion grew 15%, highlighting a strong foundation heading into the festive quarter.

Nykaa Stocks in Focus Today: FSN E-Commerce Shares To Watch After Q2 Updates

Shares of FSN E-Commerce Ventures Ltd. came under the spotlight on Monday following the release of the company's business update for the second quarter the previous evening. Despite the positive outlook shared in the update, Nykaa's stock closed the last trading session with a slight decline, falling 1.1% to settle at Rs 238.62 per share.