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THE WHAT? Nykaa mum or dad firm FSN E-Commerce Ventures Ltd shares have fallen 5.4 % attributable to its Q3 consolidated web revenue plummeting by greater than 70 %, in keeping with Reuters.
THE DETAILS Revenue fell to 81.9 million rupees within the October-December quarter, from 279.3 million rupees the earlier yr.
THE WHY? In keeping with analysts, Nykaa’s increased margin magnificence and private care section contributed to a lower-than-expected gross margin of 43.4 %, whereas bills for the corporate rose 36.5 % attributable to excessive advertising and marketing spend and lease leases.
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