Mamaearth reports 93% y-o-y growth in net profit at Rs 29 crore

23 Nov 2023 , 09:50 AM

Honasa Consumer, which runs the Mamaearth brand, announced a 93% increase in net profit to Rs 29.4 crore for the quarter ending September 2023 on Wednesday. In the previous corresponding quarter, the figure was 15.2 crore.

Revenue from operations grew 21% in the second quarter to Rs 496 crore, up from Rs 410 crore in the same quarter previous year. Volume growth of 27% year-on-year drove the strong revenue and profit performance.

Mamaearth’s EBITDA stood at Rs 40 crore in the quarter under review, rising 53% year-on-year. Honasa Consumer claims to be the largest digital-first BPC firm, with a unique portfolio of six brands.

Mamaearth was named one of the ‘Top-15 BPC Brands’ in terms of retail spending for 2022 during the third quarter. The Derma Co., the second brand in the Honasa Consumer portfolio, has an ARR of Rs 380 crore, while Aqualogica, the third brand, has the quickest ARR of Rs 180 crore.

Dr Sheths and Bblunt, who were bought, have also shown remarkable growth trajectories, expanding 30x and 3x, respectively, since the acquisition.

Honasa stated that it will continue to prioritize robust offline distribution. According to NielsenIQ, Honasa Consumer products were sold in 1.65 lakh offline stores in September 2023, representing a 47% growth in offline distribution year on year.

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