Nykaa shares jump 6% after Q1 PAT soars 152% YoY. Should you invest?

Nykaa saw its shares rise by 6% after reporting a 152% year-on-year increase in net profit for June 2024, reaching Rs 13.64 crore. Revenue for the quarter was Rs 1,746.11 crore, up 23%. The board also approved further stakes in Dot & Key Wellness and investment in Earth Rhythm, boosting its business strategy. Nykaa saw its shares rise by 6% after reporting a 152% year-on-year increase in net profit for June 2024, reaching Rs 13.64 crore. Revenue for the quarter was Rs 1,746.11 crore, up 23%. The board also approved further stakes in Dot & Key Wellness and investment in Earth Rhythm, boosting its business strategy.  Economic Times