NEW DELHI, July 7:  Fashion and beauty retailer Nykaa expects its consolidated net revenue for the first quarter of FY26 to grow at the lower end of the mid-20s percentage range year-on-year on account of a strong performance across all business segments, its parent FSN E-Commerce Ventures Ltd said in a regulatory filing.

  Geo-political tensions led to a softer sentiment during the company’s flagship sale during the April-June quarter, causing “loss of business”. Despite this, Nykaa’s Beauty vertical is expected to deliver GMV growth in the higher mid-twenties, the company said.

“Nykaa (FSN E-Commerce Ventures Ltd, along with its subsidiaries) started FY26 on a good note, with Q1FY26’s consolidated net revenue growth is expected to be at the lower end of mid-twenties. Gross Merchandise Value (GMV) growth is expected to be higher, crossing mid-twenties, indicating consistent momentum over several quarters,” it said.

The growth comes on account of strong performance across all segments, including the e-commerce platform, physical retail stores, eB2B distribution, and the House of Nykaa brands, it added.

Nykaa’s fashion vertical is projected to make improvements and deliver a GMV growth in the mid-twenties.

“This performance was driven by improving traction in the core platform business, supported by an expanding assortment and robust customer acquisition. Fashion vertical’s net revenue growth is expected to improve sequentially to mid-teens, though lower than the GMV growth,” the company said.

FSN E-Commerce Ventures Ltd reported over a three-fold increase in consolidated net profit to Rs 20.28 crore in the January-March quarter.

Revenue from operations was 23.6 per cent higher at Rs 2,061.76 crore in Q4 FY25, against Rs 1,667.98 crore a year earlier. (PTI)