Online beauty products platform Nykaa had reported Rs 17.71 crore in losses during the last fiscal year. And this year, the company turned its tables around by not just recovering from the losses but also  (coupons on nykaa) making a profit of Rs 2.31 crore. Nykaa’s valuation has now reportedly touched $743 million, making it a strong contender for the revered unicorn club with its next round of funding.


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The revenue generated from operations was recorded at Rs 1,159.32 crore in FY19, and Rs 555.1 crore in the previous fiscal, making an incremental growth of 108 percent. In March this year, Nykaa  (coupons on nykaa)  acquired fashion styling and ecommerce platform 20Dresses. Only a week later, it raised Rs 100 crore ($14 million) from Singapore-based TPG Growth IV SF. Before this, Nykaa had raised funding in September 2018 when Lighthouse India Fund III, an affiliate of Lighthouse advisors, invested Rs 113 crore in the company. At the time, Nykaa's valuation was reported at around $500 million.

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Started in 2012 by Falguni Nayar, who was previously the Managing Director at Kotak Mahindra (coupons on nykaa)  Capital, Nykaa competes with online marketplaces like Myntra, Purplle, Flipkart, and Amazon. The platform follows an inventory-led model, and has its own private label in cosmetics and personal care segment. The startup also reported its expenses to have grown to Rs 1,157.85 crore in FY19 and Rs 579.39 crore in FY18. However, it is interesting to keep a note on the smart spending (coupons on nykaa)  habits of the company, and it ended up with profits this year, despite spending 99 percent more than last year.

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