Beauty e-commerce startup Nykaa's parent FSN E-Commerce Ventures Ltd reported that the net profit attributable to its shareholders dropped 49% year-on-year to ₹8.56 crore in the quarter ended March. While the company's revenue from operations rose 31% year-on-year to ₹973 crore, its expenses rose to about ₹979 crore from ₹725 crore a year earlier.