Tech
Nykaa shares drop despite strong Q4 performance
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Nykaa parent FSN E-commerce saw shares decline in early trade as Indian market opened with losses on Monday. The counter opened 2% lower at Rs 199 against the previous closing of Rs 203.26 on the BSE. It was trading at Rs 201.26 as of 9:53 am.
The beauty and fashion retailer posted strong March quarter numbers last Friday, with nearly doubling to Rs 19 crore. The Mumbai-based company’s operating revenue rose 23.6% year-on-year to Rs 2,016.7 crore for the fourth quarter, up from Rs 1,667.9 crore, driven by customer acquisition, brand partnerships,…
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