Honasa Consumer sees 16% revenue uptick; profit at Rs 601 crore
Honasa Consumer, the company behind Mamaearth, saw its operating revenues climb 16% to Rs 601 crore in the December quarter. Net profit also surged to Rs 50 crore. Growth was driven by key product categories and new innovations. The company is foc...
By ETtech |
Honasa Consumer, the parent company of the beauty and personal care brand Mamaearth, on Thursday reported a 16% on-year increase in operating revenues, at Rs 601 crore, for the quarter ended December, driven by growth in focus categories and product innovation. The company’s net profit stood at Rs 50 crore, compared to Rs 26 crore a year ago.
“Our focus categories continued to anchor performance, reaffirming the strength of our category-first growth playbook,” said Varun Alagh, the company’s chairman, chief executive, and cofounder.
However, its total expenses during the quarter increased to Rs 550 crore, up from Rs 507 crore. A chunk of this was attributed to the purchase of traded goods worth Rs 163 crore, employee benefit expenses of Rs 71 crore, and other expenses (Rs 276 crore).
Alagh said that a change in its settlement arrangement with the Flipkart group led to a one-time accounting impact of about Rs 28 crore on its revenues for the quarter. However, he said that this had no impact on its overall profitability. Without this change, the company’s revenue would have been Rs 630 crore.
Mamaearth is the biggest brand in Honasa Consumer’s portfolio, which also has brands such as The Derma Co, Aqualogica, Dr Sheth’s, Bblunt, and Staze Beauty. These younger brands more than 25% year-on-year, Alagh said.
“As we move ahead, we remain focussed on strengthening our margin profile, improving capital efficiency, and building a structurally stronger business that can compound growth sustainably over the long term,” he added.
Last month, Honasa Consumer entered the men’s grooming segment with the acquisition of the Reginald Men brand.
Honasa shares closed up 2.24% on the BSE on Wednesday, at Rs 299.05.
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