FSN E-commerce Ventures Ltd., an entity that operates the Indian beauty startup, Nykaa, seeing profit fell 96% because marketing costs soared in the quarter before the initial public offering. Stocks fall on Monday.
Net income fell to 12 million rupees ($ 161,000) in this quarter ended September from 270 million rupees the previous year, according to a statement at the end of the week, due to a 92% increase in a 47% income increase in income. Stocks fell 5.2% at 2,236.5 rupees at 10:07 in Mumbai after declining by 7.3% in early trade.
This is the first result that was hit because Mumbai-based company shares were listed on the Exchange last week and doubled the value. The IPO made the Falguni Narggle, which has about half the company, worth almost $ 7 billion and the richest female billionaire in India.
Nykaa is part of a new generation of Indian startup which offers more than 2,500 brands from all from mascara and makeup eraser for velvet Eyeliner India Kohl and body tattoo art named Mehendi.
His income increased 47% to 8.9 billion rupees in the quarter ended September 30 from the previous year.
