NYKAA.NSE FSN E-Commerce Ventures Ltd.

The Mumbai-based company had recorded a net profit of Rs 5.4 crore and revenues of Rs 1,422 crore in Q1FY24.

Net Sales are expected to increase by 23 percent Y-o-Y (up 6 percent Q-o-Q) to Rs. 1,513.9 crore, according to ICICI Securities.

A notable shift in the festive season, beginning in October this year compared to September in the previous year, is likely to impact Q2 FY24's growth to some extent.

HDFC Securities recommended reduce rating on Fsn E-commerce Ventures with a target price of Rs 130 in its research report dated September 30, 2023.

FSN E-Commerce Ventures has on 31 August 2023, acquired 39,78,000 equity shares of Rs. 10 each at par on rights basis of FSN International, a wholly owned subsidiary of the Company. After the said acquisition, FSN International continues to be a wholly owned subsidiary of the Company.

FSN E-Commerce Ventures announced that the 11th Annual General Meeting (AGM) of the company will be held on 18 September 2023.