FSN E-Commerce Ventures Ltd, parent of cosmetics-to-fashion retailer Nykaa, reported a 71.8% drop in fourth-quarter profit on Wednesday, as consumers limited discretionary purchases and an increase in employee costs dented margins. Nykaa’s consolidated net profit attributable to equity shareholders fell to 24.11 million rupees (around $295,000) in the quarter ended March 31, from 85.6 million rupees a year ago.
Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News