Nykaa's Profit Triples in Q1 FY27 — And It Just Bought Its Way Into Premium Skincare

There's a particular kind of quarter where a company stops explaining itself and just lets the numbers talk, and Nykaa just had one of those. The beauty and fashion platform closed Q1 FY27 with a profit that more than tripled, and it barely broke a sweat doing it.

Operating revenue climbed to roughly Rs 2,782 crore, up close to 29 percent from the same quarter last year, while net profit jumped 3.3 times to about Rs 80 crore. Beauty remains the engine that runs the whole machine, contributing over 90 percent of operating revenue at Rs 2,516 crore, while fashion trailed behind at Rs 253 crore, still holding its own at roughly 9 percent of the total.

What makes this quarter interesting isn't just the growth, though — it's how the company spent it. Cost of materials stayed the single biggest expense, eating up 57 percent of total expenditure at Rs 1,506 crore, while employee costs rose about 23 percent to Rs 225 crore. Add in marketing, tech, and finance overheads, and total expenditure landed at Rs 2,662 crore. Yet profit still tripled, which means the top line simply grew faster than costs did — exactly the kind of math investors like to see.

Sequentially, profit barely moved compared to the Rs 79 crore posted the quarter before, suggesting this isn't a one-off spike so much as a stable new normal for the bottom line.

Nykaa didn't stop at reporting numbers, either. The company approved buying a 51 percent stake in Aminu Wellness, a skincare manufacturer that pulled in about Rs 19.4 crore in revenue last year, for up to Rs 32 crore in cash. The logic is straightforward: Aminu brings its own R&D and distribution network, and Nykaa gets a faster route deeper into the premium skincare shelf rather than building that capability from scratch.

Markets seemed unbothered either way. Shares closed at Rs 342.5 on results day, putting Nykaa's market cap at roughly Rs 98,088 crore, or about $10.3 billion — a valuation that keeps climbing right alongside the profit line.