Nykaa Share Price Hits Rs 172.98 Following Q3 Earnings

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Also read : Nykaa Share Price Hits Rs 172.98 Following Q3 Earnings

On February 11, 2024  Nykaa Beauty and Fashion  experienced a 3% increase in share price up to Rs 172.98. The stock market reacted positively after Nykaa released its excellent third-quarter results.

Strong Revenue and Profit Growth Exceeds Expectations

Also read : Nykaa Share Price Hits Rs 172.98 Following Q3 Earnings

After growth of 51% the company generated 26.4 crores more profits than its previous period. Its sales numbers rose by 27% to 2,267 crore Rupees while last year’s 1,789 crore Rupees mark served as the basis. The actual growth surpassed what Nykaa projected to investors only six weeks earlier.

Diverse Sales Channels and Strong Beauty Segment Drive Success

Also read : Nykaa Share Price Hits Rs 172.98 Following Q3 Earnings

What made Nykaa successful? The company’s beauty division generated exceptional performance through various selling outlets including their website plus their physical stores along with self-developed and external business brand products.

Surge in Trading Activity Reflects Strong Investor Interest

The company received high levels of investment on the National Stock Exchange during market start. Market activity reached 92 million shares in trading while the usual average stood at 76 million.

Also read : Nykaa Share Price Hits Rs 172.98 Following Q3 Earnings

The beauty segment of Nykaa performed better than anticipated which increased investor faith and made them invest in Nykaa’s shares.


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