Q3 2025 Fsn E-Commerce Ventures Ltd Earnings Call Transcript
Key Points
- FSN E-Commerce Ventures Ltd (BOM:543384) reported a 25% year-on-year growth in GMV, reaching INR4,528 crores for the quarter.
- The company's revenue from operations grew by 27% year-on-year, amounting to INR2,267 crores.
- Gross profit increased by 30% year-on-year to INR991 crores, with EBITDA growing by 42% year-on-year to INR140.8 crores.
- The Beauty vertical showed strong performance with a 32% year-on-year growth in GMV, reaching INR3,389 crores.
- The company expanded its physical retail presence to 221 stores, with 12 new stores launched during the quarter, enhancing its largest beauty retail network in the country.
- The Fashion vertical experienced subdued GMV growth of 8% year-on-year, reflecting challenges in the broader fashion industry.
- Marketing expenses increased, impacting profitability, with a noted rise in customer acquisition costs.
- The EBITDA margin for the Beauty vertical, while positive, has been relatively stable, indicating limited margin expansion.
- The eB2B business, although growing, continues to have a negative impact on overall profitability.
- The Fashion business's profitability remains a concern, with increased marketing expenses and competitive pressures from new entrants like Shein.
Good evening, everyone. This is Yashasvi from Chorus Call. Welcome to FSN E-Commerce Ventures Limited Q3 FY25 earnings call. From the management at Nykaa, we have Ms. Falguni Nayar, Executive Chairperson, MD and CEO; Mr. Anchit Nayar, Executive Director and CEO, Beauty; Ms. Adwaita Nayar, Executive Director, CEO, Nykafashion and Head of Owned Brands; Mr. Vishal Gupta, CEO, Nykaa Distribution; Mr. Abhijit Dabas, EVP, Nykafashion.com; Mr. P. Ganesh, Chief Financial Officer.
Before we start, we would like to point out that some of the statements made in today's call may be forward-looking in nature and a disclaimer to this effect has been included in the earnings presentation shared with you earlier. (Operator Instructions)
With that, over to you, Falguni ma'am for opening remarks.
Thank you. I think I'll start with the performance highlights. Really welcome to all of the investors and shareholders and analysts. And really
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