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“…this is to inform that Nihir Parikh, CEO of Nykaa Fashion.com and a Senior Management Personnel of the Company, has tendered his resignation, on account of personal commitments. The resignation will be effective the close of business hours of December 05, 2024,” FSN E-Commerce Ventures said in a regulatory filing.
The company acknowledged his significant contributions during his tenure, stating, “The company places on record its appreciation for the invaluable contribution provided by Nihir Parikh during his long association over the years with the company.”
Also Read: ‘The best time for beauty is yet to come,’ says Nykaa’s Falguni Nayar
FSN E-Commerce Ventures reported a net profit attributable of ₹10.04 crore for the quarter, up 71.6% year-on-year. The beauty company had posted a profit of ₹5.85 crore in the same quarter last fiscal year. On a quarter-on-quarter basis, the net profit was 4.1% higher.
FSN’s consolidated revenue from operation for the three months ended September stood at ₹1,874.74 crore, marking a 24.4% increase over the ₹1,507.02 crore recorded in the corresponding quarter of the previous financial year.
On a QoQ basis, revenue grew by 7% from ₹17,461 million in Jun-24. Gross Profit for the quarter stood at ₹8,210 million, growing 26% YoY (from ₹6,496 million last year) and 9% QoQ (from ₹7,560 million).
Shares of FSN E-Commerce Ventures Ltd ended at ₹167.50, down by ₹1.60, or 0.95% on the BSE.
