FSN E-Commerce Ventures announced Q1FY23 results: Consolidated: GMV grew 47% YoY to Rs 21,558 million in Q1 FY2023 Revenue from Operations grew 41% YoY to Rs 11,484 million in Q1 FY2023 Gross Profit grew 54% YoY to Rs 5,099 million in Q1 FY2023. Gross margin as a % to Revenue from Operations increased to 44.4% in Q1 FY2023 vs 40.6% in Q1 FY2022 EBITDA grew 71% YoY to Rs 461 million in Q1 FY2023. EBITDA margin as % of Revenue from Operations improved to 4.0% in Q1 FY2023 vs 3.3% in Q1 FY2022, led by improvement in gross margin and efficiency in fulfilment expense Profit before Tax grew 165% YoY to Rs 83 million in Q1 FY2023 Net Profit after Tax grew 42% YoY to Rs 50 million in Q1 FY2023 Q1 FY2023 performance, Falguni Nayar, Executive Chairperson, MD, and CEO, said: "Our business continues to grow across the verticals, despite an adverse and challenging macroeconomic environment, demonstrating the strength of our business fundamentals and unique customer-first experiences. The beauty vertical, online and offline, is witnessing growth momentum while building efficiencies across the value chain. As a result of the significant discipline that we ensured in our retail store business during the COVID affected periods, we are now witnessing the positive effect of scale on our unit economics, especially with the return of offline shopping behaviour. The consumer demand for beauty, personal care and wellness is also showing early signs of recovery and we are gearing up for a promising festive season this year. We continue to invest in building a unique customer proposition in fashion, with developments in platform experience and assortment depth. We also strengthened our purpose led owned brands portfolio, through the launch of Twig & Twine, Gloot, Azai and the acquisition of Kica. The sequential growth of Fashion over Q3 and Q4 of last year comes as a result of these building blocks along with the industry witnessing revival as factors such as mobility and travel improve. We remain focused on investing in growth engines of the future, particularly Superstore by Nykaa, Nykaa Man and international operations. In each of these, our efforts are towards building the business model in a sustainable manner. We are witnessing promising revenue growth in these ventures, giving us confidence in our ambitions." Result PDF