Shares of Nykaa surged more than 9% during intraday trading today (August 23) to hit a fresh 52-week high of INR 229.9 apiece on the BSE The startup’s market valuation has surpassed 64,857 Cr (around $7.7 Bn) The Falguni Nayar-led startup reported a more than 2x jump in its consolidated net profit at INR 13.
6 Cr in Q1 FY25 from INR 5.4 Cr in the year-ago period Shares of Nykaa surged more than 9% during intraday trading today (August 23) to hit a fresh 52-week high of INR 229.9 apiece on the BSE.
However, the stock shed some of the gains and was trading 7.9% higher at INR 227 at 3:33 PM. On a year-to-date basis, the stock is up over 32%, beating BSE returns of 12% over the same period.
While Nykaa share prices surged to a new 52-week high in early trading hours today, the startup’s market valuation surpassed 64,857 Cr (around $7.7 Bn). The Falguni Nayar-led startup reported a more than 2x jump in its consolidated net profit at INR 13.
6 Cr in the first quarter of the fiscal year ended June 30, 2024 (Q1 FY25) from INR 5.4 Cr in the corresponding quarter last year. Meanwhile, revenue from operations jumped almost 23% year-on-year to INR 1,746.
1 Cr during the quarter under review. With Nykaa posting a strong performance in Q1, brokerage Nuvama has maintained its ‘buy’ recommendation on the stock and increased its price target to INR 220 from INR 203 earlier. Recenly, Nykaa also announced two major acquisitions in the beauty and personal care (BPC) segment.
The listed-beau.