Why Nykaa’s Q3 results lacked glamour

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FSN E-Commerce Ventures Ltd, the parent company of Nykaa, could not charm investors with its December quarter (Q3FY23) results. Gross margin at 43.4% missed analysts estimates and was lower by roughly 300 basis points (bps) year-on-year (y-o-y) and 200bps sequentially.  One basis point is one-hundredth of a percentage point. Unsurprisingly, the ......