New Delhi: FSN E-Commerce Ventures Ltd, which operates the Nykaa platform, reported another strong quarter in Q3 FY26, with consolidated GMV and net sales value (NSV) growth expected in the late twenties year-on-year, according to a regulatory filing on Saturday. The company is also likely to clock consolidated net revenue growth at the upper end of the mid-20% band, marking a slight acceleration over recent quarters.
Source: Internet
The performance was led by Nykaa’s core beauty business, which is expected to deliver NSV growth in the late twenties—the highest in the past six quarters—making Q3 the largest quarter so far in absolute terms. The growth was broad-based across beauty categories, aided by strong traction in House of Nykaa brands, a successful Pink Friday sale and robust new customer additions. Net revenue growth in the beauty vertical is projected to be at the upper end of the mid-20% range.
Nykaa’s fashion vertical also sustained its revival, with NSV growth expected in the mid-20% range during the quarter. The momentum was driven by improved performance of the core platform, new brand launches and continued customer acquisition. However, net revenue growth in fashion is expected to trail NSV growth at late-teens levels, reflecting subdued content and marketing income and ongoing channel optimisation in owned brands.
The company said the Q3 update is provisional and subject to statutory audit, adding that the disclosure does not constitute earnings guidance. All growth numbers are on a year-on-year basis.