FSN E-Commerce Ventures, the parent company of the Nykaa brand, expects nearly 30% year-on-year growth in consolidated net revenue during the first quarter of FY2026–27, driven largely by strong performance in its fashion segment.
According to a regulatory filing, Nykaa expects consolidated Gross Merchandise Value (GMV) and Net Sales Value (NSV) to grow in the early thirties on a year-on-year basis for the quarter ended June 30, 2026.
The company said its Fashion vertical has begun FY2027 on a much stronger note, with NSV growth projected in the mid-fifties, reflecting a sharp acceleration from previous quarters. The business also continues to benefit from an improved GMV-to-NSV conversion, supported by lower leakages.
At the end of June, Nykaa operated 324 physical stores.
The company attributed growth in its core platform business to an expanded brand portfolio and recent marketing investments, which helped attract new customers.
Earlier, Nykaa posted a multifold rise in consolidated net profit to Rs 78.75 crore (US $ 8.26 million) in the March quarter of FY26, supported by strong beauty sales and reduced losses in its fashion segment.
Revenue from operations increased around 28% to Rs 2,648.17 (US $ 277.65 million)crore during the quarter.
For the year ended March 31, the company’s net profit nearly tripled to Rs 203.94 crore (US $21.38 million) from Rs 72.07 crore US $ 7.56 million in FY2025, while annual revenue from operations grew 26% to Rs 10,022.35 crore (US $ 1,050.78 million).
Bharat Tex Special Report 2026 
