Nykaa’s marketing expenses surged 40% YoY to Rs 2,365 million in Q2 FY25, up from Rs 1,690 million in Q2 FY24. Sequentially, marketing spends increased by 17% from Rs 2,018 million in Q1 FY25. For H1 FY25, marketing costs reached Rs 4,383 million, a 33% YoY rise. In the Fashion vertical, marketing expenses represented 29.1% of NSV, up from 25.6% a year ago, reflecting Nykaa’s focus on customer acquisition and retention.
The rise in marketing spend was also driven by strong content revenue from Little Black Book (LBB). Nykaa’s 2023 marketing overhaul introduced a dual-leadership structure, with Sudhansh Kumar leading performance marketing and Suchita Salwan overseeing organic marketing.
Nykaa reported a 71.6% YoY increase in net profit, reaching ₹10.04 crore for Q2 FY25, compared to ₹5.85 crore in Q2 FY24. Consolidated revenue grew 24.4% YoY to Rs 1,874.74 crore, while gross profit rose 26% to Rs 8,210 million.
The company expanded its retail footprint to 210 stores across 72 cities and launched new flagship stores in Mumbai and Delhi. Nykaa also grew its beauty portfolio, adding 170+ new brands, including exclusive launches like YSL Beauty and Dr Jart+.
Its distribution business, Superstore by Nykaa, saw GMV growth of 80% YoY, serving over 235,000 retailers across 1,060+ cities. The business also improved profitability with a 862 bps YoY margin improvement.