Mamaearth Q3 Results: Profits Soars 264% YoY, Revenue Up By 28%

Honasa Consumer, the parent company overseeing renowned direct-to-consumer (D2C) brands like Mamaearth, The Derma Co, and BBlunt, reported a surge in its net profit for the third quarter of the financial year 2023-24. The net profit soared by 264 per cent year-on-year, reaching Rs 25.9 crore compared to Rs 7.1 crore recorded in the corresponding period last year.

Consolidated revenue from operations also witnessed substantial growth, increasing by 28 per cent year-on-year to Rs 488.2 crore, compared to Rs 382.2 crore in the previous year's corresponding quarter and Rs 496.1 crore in Q2 FY24.

However, the company experienced a slight decline in sequential performance due to the impact of slower consumer demand. Quarter-on-quarter, the profit dropped by 12 per cent to Rs 25.9 crore from Rs 29.4 crore, while revenue dipped by 1.5 per cent.

Total expenses for the quarter surged to Rs 464.5 crore from Rs 378.5 crore a year ago and Rs 463.9 crore in the preceding quarter.

Varun Alagh, Chairman and Chief Executive Officer of Honasa Consumer, attributed the impressive Q3 results to the company's profound understanding of the Indian beauty market. He highlighted the entry of four out of six brands from their portfolio into the Rs 150 crore Annualised Revenue Rate (ARR) club as a testament to their capabilities. Alagh emphasized the focus on purpose-based brand building, innovation, and distribution expansion moving forward.

Honasa witnessed a 28 per cent year-on-year sales increase during the quarter, driven by festival season sales, with consolidated EBITDA surging by 192 per cent year-on-year to Rs 34.5 crore.

Throughout the calendar year 2023, the company launched 122 new products and expanded its omnichannel distribution to over 170,000 touchpoints, marking a 37 per cent year-on-year growth in the distribution network.

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