Nykaa Profit Falls 96%, Stock Price Down
FSN E-Commerce Ventures Ltd., the entity that operates the Indian beauty startup Nykaa, saw its profit fall 96% as marketing costs surged in the quarter before its initial public offering. Shares dropped on Monday. FSN E-Commerce Ventures Ltd., the entity that operates the Indian beauty startup Nykaa, saw its profit fall 96% as marketing costs surged in the quarter before its initial public offering. Shares dropped on Monday. Net income dipped to ₹ 1.2 crore ($161,000) in the quarter ended September from ₹ 27 crore the previous year, according to a statement late Sunday,…
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