Nykaa expects revenue growth in the lower mid-twenties

FSN E-Commerce Ventures, operating as Nykaa, has announced expectations for consolidated net revenue growth in the lower end of the mid-twenties for the first quarter of fiscal year 2026. The company anticipates GMV growth exceeding mid-twenties, indicating continued momentum. Nykaa's Beauty vertical is projected to deliver GMV growth in the higher mid-twenties, while the Fashion vertical is expected to show GMV growth of mid-twenties. Beauty vertical's net revenue is expected to grow in mid-twenties and Fashion vertical's net revenue is expected to improve sequentially to mid-teens.