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Yes. Nykaa reported a net profit after tax (PAT) of ₹204 crore for FY2026, with a 2.0% PAT margin. Its latest reported quarter, Q1 FY2027, also was profitable, with PAT of ₹80 crore. Those bottom-line figures answer whether Nykaa was profitable; revenue growth, EBITDA margin and operating cash flow add context but measure different things.
Nykaa’s reported results at a glance
The figures below are company-reported. FY2026 covers the full financial year; Q1 FY2027 covers the quarter ended June 30, 2026. Growth rates are year-on-year, so each period is compared with the corresponding period a year earlier.
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| Measure | FY2026 | Q1 FY2027 |
|---|---|---|
| Revenue from operations | ₹10,022 crore, up 26% year on year (Nykaa FY2026 results) | ₹2,782 crore, up 29% year on year (Nykaa Q1 FY2027 results) |
| EBITDA | ₹752 crore, up 59% year on year (Nykaa FY2026 results) | not stated in the cited Q1 results release; the release reports EBITDA margin (Nykaa Q1 FY2027 results) |
| EBITDA margin | 7.5%, versus 6.0% in FY2025 (Nykaa FY2026 results) | 8.5%, versus 6.5% a year earlier (Nykaa Q1 FY2027 results) |
| PAT | ₹204 crore, up 183% year on year (Nykaa FY2026 results) | ₹80 crore, up 226% year on year (Nykaa Q1 FY2027 results) |
| PAT margin | 2.0% (Nykaa FY2026 investor presentation) | not stated in the cited Q1 results release (Nykaa Q1 FY2027 results) |
| Cash flows from operations | ₹644.3 crore, versus ₹466.6 crore in FY2025; the presentation lists a negative ₹15.1 crore working-capital movement (Nykaa FY2026 investor presentation) | not stated as a comparable year-to-date figure in the cited release (Nykaa Q1 FY2027 results) |
What each profitability measure tells you
Revenue: the scale of the business
Revenue from operations is the sales and service revenue recognized by the company. Nykaa’s FY2026 revenue grew 26% to ₹10,022 crore, and Q1 FY2027 revenue grew 29% to ₹2,782 crore. These are like-for-like year-on-year growth comparisons; the annual total and quarterly total should not be compared as though they cover the same length of time.
Gross margin: what remains after goods sold
Gross margin is the share of revenue left after the cost of goods sold. Nykaa’s FY2026 investor presentation reports a 45.1% gross margin, up from 43.7% in FY2025. It helps assess the economics of sales before other operating costs, but it does not show how much reached the bottom line.
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EBITDA: operating earnings before several costs
EBITDA means earnings before interest, taxes, depreciation and amortisation. It is useful for examining operating performance before financing costs, taxes and non-cash depreciation and amortisation. Nykaa’s FY2026 EBITDA rose 59% to ₹752 crore, while its EBITDA margin increased to 7.5% from 6.0%. In Q1 FY2027, EBITDA margin was 8.5%, compared with 6.5% a year earlier.
EBITDA is not net profit: interest, tax, depreciation and amortisation sit outside this measure. Management described the improvement in company materials as reflecting operating leverage and scale efficiencies; that is the company’s explanation, not proof that the same drivers will persist.
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PAT: the bottom-line profit
PAT, or profit after tax, is the net profit remaining after tax. Nykaa reported ₹204 crore of PAT for FY2026, with a 2.0% PAT margin, and ₹80 crore for Q1 FY2027. The annual 2.0% PAT margin is much narrower than the 7.5% EBITDA margin because the measures are taken at different points in the income statement.
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Operating cash flow: whether operations generated cash
Cash flows from operations show cash generated by operating activities after working-capital movements in the FY2026 investor presentation’s table. That table reports ₹644.3 crore in FY2026, up from ₹466.6 crore in FY2025, and a negative ₹15.1 crore contribution from working-capital changes in FY2026. Positive operating cash flow supports an assessment of earnings quality, but one annual comparison does not establish a lasting trend. Investment and financing cash flows also affect the company’s overall cash position.
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How to read the results together
- Start with PAT. It is the direct evidence that Nykaa reported a net profit in FY2026 and Q1 FY2027.
- Use revenue growth to assess expansion. The reported growth rates show that revenue increased in both periods, but do not by themselves establish that growth is profitable.
- Compare margins at the same level. Gross margin, EBITDA margin and PAT margin answer different questions; the higher EBITDA margin should not be presented as Nykaa’s net margin.
- Check cash flow across multiple periods. FY2026 operating cash flow was positive and higher than FY2025, but the reviewed Q1 FY2027 release does not provide a comparable current-quarter or year-to-date operating-cash-flow figure.
Nykaa’s Q1 FY2027 results release quotes Executive Chairperson, Founder and CEO Falguni Nayar saying, “This quarter marked continued acceleration in our growth momentum and EBITDA margins, both reaching their highest levels in the last 12 quarters.” Treat this as management’s characterization of the quarter, alongside the reported measures above.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What these figures do not establish
These reported results describe past accounting performance, not Nykaa’s valuation, future profits or expected stock returns. Profitability alone is not a buy-or-sell recommendation; those judgments require separate analysis of valuation, risks and future prospects.
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