Updated February 9th, 2024 at 20:01 IST
Mamaearth’s profit more than triples to Rs 26 crore in December quarter
Honasa's earnings before interest, taxes, depreciation, and amortisation (EBITDA) also known as operating profit rose 192% to Rs 34 crore.
Honasa Q3: Wellness products maker Mamaearth's parent company, Honasa Consumer's net profit in December quarter more than tripled to Rs 26 crore from Rs 7.12 crore in the same period last year. Its revenue from operations advanced 28 per cent to Rs 488.21 crore versus Rs 382 crore in the year ago period.
"Our business delivered a strong performance in Q3 with revenue growth of 28% and PAT growth of 264% YoY. The company has demonstrated market-beating growth and outperforming peers, underscoring its commitment to gain share of the beauty and personal care industry, led by innovation and strategic market expansion," Honasa Consumer said in a release.
"The Q3 results is a testimony of our deep understanding of the beauty market in India. As we move ahead to capture this market further, our innovation-driven brand building playbook uniquely positions us to identify many opportunities to continue our growth trajectory,” said Varun Alagh, Chairman and CEO of the company.
Honasa's earnings before interest, taxes, depreciation, and amortisation (EBITDA) also known as operating profit rose 192 per cent to Rs 34 crore and its operating profit margin nearly 400 basis points to 7.05 per cent.
During the quarter the company continued growth momentum with improving profitability. The company built and scaled new categories like Mamaearth color cosmetics.
“Four out of six brands from our portfolio are already in the Rs 150 crore ARR club and we see this as a testimony of our capabilities. Having built color care with Mamaearth showcases our ability to build new categories and versatility of the brand. As we move forward, focus continues to be on purpose-based brand building, innovation and distribution expansion,” Alagh added.
Honasa Consumer shares ended 3.54 per cent higher at Rs 432.75 ahead of its earnings announcement.
Published February 9th, 2024 at 20:01 IST