FSN E‑Commerce Ventures Ltd, which operates the Nykaa beauty and fashion platform, posted strong Q2 FY26 results with a net profit of ₹34.43 crore, up more than three-fold from around ₹10.04 crore in the same quarter last year.Revenue from operations rose approximately 25% year-on-year to ₹2,345.98 crore in Q2, from ₹1,874.74 crore a year ago.

Key Highlights

• Nykaa’s Q2 FY26 net profit surged over threefold to ₹34 crore, driven by strong sales growth.
• Revenue rose 25% year-on-year to ₹2,346 crore, with beauty and fashion segments leading performance momentum.

On the margin front, EBITDA grew about 53% to ₹159 crore and the EBITDA margin improved to 6.8% from 5.5% in the prior year period. The company’s Gross Merchandise Value (GMV) increased around 30% to ₹4,744 crore, driven by strong growth across its beauty and fashion verticals.

Digging into segments: the beauty vertical delivered about 28% GMV growth to ₹3,551 crore, while the fashion business posted a robust 37% GMV increase to ₹1,180 crore, helped by global brand introductions and expanding product range. Offline retail expansion also continued, with Nykaa increasing its store count to 265 across 90 cities (up from 250 the previous quarter). The firm’s cumulative customer base now stands at about 49 million, with roughly 40 million beauty customers.

Also Read: Nykaa Posts Strong Revenue Growth in Q4 FY25, Profits Surges to 90%

Commenting on the performance, founder and CEO Falguni Nayar said the quarter reflects “Accelerated growth momentum across Nykaa, with each of our businesses contributing meaningfully to this trajectory.” She underscored the consistent performance of the beauty business and the rapid gains in the fashion vertical.

Overall, Nykaa’s Q2 results highlight strong operational execution, expanding scale and improving profitability in a competitive fashion and beauty market.