Nykaa shares: Nuvama cuts target price, but retains ‘Buy’ rating on stock; here’s why
FSN E-Commerce Ventures Ltd (Nykaa) reported subdued September quarter results, with revenue growth at 24.4 per cent YoY coming in line with the consensus estimate. BPC (Beauty Personal Care) and Fashion segments reported net sales value (NSV) growth of 25 per cent and 13 per cent YoY; and Ebitda margin was similar to last quarter at 5.5 per cent against a consensus estimate of 6.1 per cent. Profit after tax at Rs 13.40 crore was lower than the consensus forecast of Rs 24.70 crore, Nuvama said.
