Nykaa Q3 Shines: Revenue Accelerates, Beauty & Fashion Drive Strong Growth

• Nykaa (FSN E-Commerce Ventures) reports strong Q3 FY26 update with consolidated GMV and NSV growth in the late twenties.
• Consolidated net revenue growth expected at the upper end of mid-twenties, marking an acceleration.
• Beauty vertical sees accelerated NSV growth in late twenties, highest in six quarters, driven by House of Nykaa brands and Pink Friday sale.
• Fashion vertical continues recovery with mid-twenties NSV growth, fueled by platform performance and new brand additions.
• Fashion's net revenue growth is lower (late teens) due to subdued content/marketing and channel optimization.

Why It Matters: Nykaa's Q3 update reveals accelerated revenue growth, driven by strong Beauty and recovering Fashion verticals.