Beauty Firm Nykaa's Profit Tumbles 49% On Soaring Expenses And Dull Demand

Indian beauty products retailer Nykaa reported a 49% fall in quarterly net profit on Friday, hit by soaring expenses amid dull demand for its personal care and fashion products.

Consolidated net profit fell to 85.6 million rupees ($1.10 million) for the fourth-quarter ended March 31, from 168.8 million rupees a year earlier, parent company FSN E-Commerce Ventures Ltd said in a regulatory filing.

Revenue from operations rose to 9.73 billion rupees from 7.41 billion rupees a year ago.

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