In the second quarter of the current fiscal year (Q2 FY23), FSN E-Commerce Ventures Ltd, which operates the online fashion retailer Nykaa, declared a consolidated net profit of 5.2 crore, an increase of more than 330% from the quarter before. In the preceding quarter, from June 2022 to June 2023, the company had posted a profit of 5 crore.

The company’s operating revenue increased by over 39% to 1,230 crore from $885 crore in the same quarter of the previous fiscal year, while it increased by 7% from 1,148.4 crore quarter-over-quarter (QoQ).

In the afternoon trade on Tuesday, Nykaa shares increased by more than 4% to 1,208 per share on the BSE. Nykaa shares went public in November of last year, and since then, the stock has fallen more than 48%. Other recently listed new-age internet companies, such as Paytm, Zomato, Nykaa, PB Fintech, and Delhivery, have also had difficult months on the stock market.

The company would issue a bonus of 5 shares for every share held as of the record date, according to a statement made earlier this month by Nykaa, whose board had approved the issuance of bonus equity shares in the ratio of 1:5. To determine which members are eligible for bonus equity, the corporation updated its record date.