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Earlier in the month, FSN E-commerce, parent company of Nykaa, said it saw consistent growth across its three business verticals in the December quarter even as some impact on discretionary consumption was seen due to short-term pressures.
For the December quarter, Nykaa expects consolidated NSV to grow in the mid-20s and revenue in the low 20s from the year-ago period
A notable shift in the festive season, beginning in October this year compared to September in the previous year, is likely to impact Q2 FY24's growth to some extent.
Impressively, 80 per cent of this quarter's GMV contribution originated from existing customers, , nykaa, Q1 report