India: Nykaa's stock falls after higher costs sink Q3 profit by 70%

India: Nykaa's stock falls after higher costs sink Q3 profit by 70%

Nykaa founder Falguni Nayar with her team. Photo: Abhijit Bhatlekar/Mint

Shares of India’s FSN E-Commerce Ventures Ltd, the parent of cosmetics-to-fashion retailer Nykaa, fell as much as 5.4% on Tuesday after higher costs sunk the company’s third-quarter consolidated net profit by more than 70%.

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