Nykaa reported a strong set of numbers for the quarter ended September 30, 2025 (Q2 FY26). The company posted a sharp rise in profitability, stronger revenue growth, and improved operating margins. The performance reflects healthy demand in both beauty and fashion categories, supported by premiumisation and a wider store footprint.
Nykaa’s consolidated net profit rose to ₹34.43 crore in Q2 FY26, compared with ₹10.04 crore in the same quarter last year. This nearly 243 percent YoY jump shows the benefits of scale, cost control, and brand traction. Revenue from operations also increased by 25 percent YoY to ₹2,345.98 crore, driven by rising consumer spending across categories.
Gross Merchandise Value (GMV), which tracks the total value of products sold on the platform, grew 30 percent YoY to ₹4,744 crore. Growth was supported by strong demand in beauty, higher contribution from premium brands, and the continued revival of the fashion business. Nykaa’s owned brands under the House of Nykaa portfolio recorded an impressive 54 percent YoY rise in GMV, showing rising consumer acceptance of in-house labels.
The company also reported better profitability at the operating level. EBITDA rose 53 percent YoY to ₹159 crore, and the EBITDA margin improved to 6.8 percent from 5.5 percent a year ago. Although margins remain mid-single-digit, the improvement shows progress toward a more profitable model.
Nykaa’s beauty division continued to outperform, supported by luxury and Korean beauty launches. The fashion vertical, which had been under pressure, saw a 37 percent YoY GMV recovery. The introduction of global brands like GAP, Guess, and H&M helped lift platform demand.
The company also expanded its physical retail presence. Nykaa added 19 new stores, taking the total to 265 stores across 90 cities. This fits well with its omnichannel strategy, where offline and online channels support each other and strengthen brand visibility. Nykaa’s customer base across beauty and fashion has now reached 49 million.
On the leadership side, the Board reappointed Falguni Nayar as Executive Chairperson, Managing Director, and CEO for another five-year term starting February 2026. This gives the company strategic continuity. Nayar said the quarter showed “accelerated momentum across categories”, backed by premiumisation, strong owned-brand performance, and a growing offline network.
Looking ahead, Nykaa’s focus on premium products, owned brands, and store expansion could support future revenue and margin growth. The improvement in the fashion vertical is a positive sign. Key watchpoints include margin expansion and maintaining momentum in fashion. Overall, the Q2 FY26 results show that Nykaa is moving toward a more stable and scalable growth path.