te Nykaa shares under pressure after cosmetics-to-fashion retailer reports Q1 results | Zee Business

Nykaa shares under pressure after cosmetics-to-fashion retailer reports Q1 results

Nykaa share price NSE: Shares of FSN E-Commerce Ventures, the parent company of Nykaa, tumbled on Monday after online beauty and fashion e-commerce major reported its financial results for the April-June period last week.

Nykaa shares under pressure after cosmetics-to-fashion retailer reports Q1 results
Nykaa share price NSE: Shares of FSN E-Commerce Ventures tumbled on Monday after online beauty and fashion e-commerce major reported its financial results for the June quarter. | Image: Reuters

Nykaa share price NSE: Shares of FSN E-Commerce Ventures, the parent company of Nykaa, tumbled on Monday after online beauty and fashion e-commerce major last week reported its financial results for the April-June period. Nykaa shares declined by as much as Rs 16.3 or 11.1 per cent to Rs 130 apiece on BSE.

After market hours on Friday, the company reported a consolidated net profit of Rs 5.4 crore for the quarter ended June 30 as against a consolidated net profit of Rs 5 crore for the corresponding period a year ago. Its revenue from the operations came in at Rs 1,421.8 crore for the first quarter of the current financial year as against Rs 1,148.4 crore for the year-ago period, according to a regulatory filing. The company's total expenses went up 22 per cent to Rs 1,418.8 crore during the June quarter, from Rs 1,148 crore a year ago. Read more 

Nykaa share price target: Here is what analysts say

After the Q1 results announcement, brokerage firm Morgan Stanley has maintained an overweight stance on Nykaa but has cut the target price by Rs 9 to Rs 175 from Rs 184. In addition, here's what other brokerages recommend:

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  • JP Morgan has maintained an underweight rating with a target price of Rs 106 
  • Jefferies has maintained a buy call with a target price of Rs 200 
  • Citi has maintained a buy call but has cut the target price to Rs 170 from Rs 172 
  • Goldman Sachs has maintained a neutral stance but has cut the target price to Rs 160 from Rs 175 
  • Nomura has double-downgraded the counter to neutral from buy and has cut the target price by Rs 20 to Rs 163  
  • Macquarie has maintained an underperform rating, however, has raised the target price of Rs 120 from Rs 115

Nykaa share price history 

Nykaa's stock has given a negative return of over 40 per cent in the last 12 months (from August 16, 2022), as per Trendlyne data. In comparison, the headline index Nifty 50 has rallied nearly 9 per cent.

(With reports from inputs)

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Written By: ZeeBiz WebTeam
Updated: Fri, Aug 18, 2023
02:17 pm
New Delhi, ZeeBiz WebDesk
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