Brands
Nykaa announces Q2FY24 results
Mumbai: Nykaa has announced its financial results for the quarter ended September 2023 on 6 November. The company reported a net profit of Rs 7.8 crore for the quarter under review, a 50 per cent rise from the year-ago period. Nykaa reported a net profit of Rs 5.42 crore in the June quarter.
The growth was driven by the e-commerce’s beauty and personal care (BPC) business.
Revenue from operations climbed 22 per cent to Rs 1,507 crore for the quarter under review, from Rs 1,230.82 crore a year ago. Nykaa noted that the revenue rose in the quarter despite the delay in the festive season as compared to the previous year.
Nykaa noted that the physical retail business continued to expand post-COVID on the back of 13 new stores launched in the quarter, taking the total number of stores to 165 as of 30 September 2023. The retail business now constitutes 8 per cent of the overall beauty and personal care gross merchandise value. Nykaa’s brands in beauty experienced Net Sales Value growth of close to 21 per cent year-on-year.
Nykaa also reported that the consolidated revenue from operations from its fashion business stood at Rs 130.5 crore in Q2FY24, marking an on-year growth of 28 per cent.
The shares of the company also ended 5 per cent higher on 6 November, ahead of the announcement of its quarterly numbers.
Brands
Jubilant Foodworks to end Dunkin’ franchise in India
Pizza chain operator will not renew agreement when it expires at end of 2026.
MUMBAI: When the doughnuts stop turning and the coffee goes cold, even a global giant like Dunkin’ can find the Indian market a tough brew to crack. Jubilant Foodworks has decided not to renew its franchise agreement with Dunkin’ when the pact expires on 31 December 2026, according to a Reuters report. The operator, best known for running Domino’s outlets in India, said it would evaluate options for its existing Dunkin’ stores, including a potential sale or transfer of franchise rights, in consultation with the US-based brand.
The decision follows years of underperformance in a market where local tastes and intense competition have made it difficult for international coffee-and-doughnut formats to gain traction. Jubilant, which has increasingly focused on its core pizza business and newer bets like Popeyes, indicated that the exit would not materially affect its financial or operational position.
Dunkin’ accounted for just 0.61 per cent of Jubilant’s revenue in the fiscal year ending 2025 and recorded a loss of approximately Rs 191 million, according to a regulatory filing. The company operated 27 outlets as of December 2025, having shuttered seven stores over the preceding year.
The retreat comes even as Jubilant’s broader business shows signs of momentum. The company reported a 65 per cent rise in quarterly profit for the October to December period, reaching Rs 70.9 crore, up from Rs 42.91 crore a year earlier.
For Jubilant, the exit reflects a sharpening strategic focus. For Dunkin’, it marks another setback in a market that has proven resistant to imported café concepts without significant localisation.
In the cut-throat world of Indian quick-service restaurants, sometimes the sweetest deals are the ones you quietly walk away from leaving more room for the brands that truly rise to the occasion.
