Mamaearth's Parent Company Sees 250% Profit Surge in Q3FY24, Plans for Growth

12 Feb 2024 , 11:57 AM

Honasa Consumer, parent of Mamaearth, reports a 250% YoY increase in Q3FY24 net profit, reaching ₹26.1 Crore. Operating revenue for the same period stands at ₹488.2 Crore, marking a 28% YoY increase. Sequentially, operating revenue decreases by 2% from ₹496.1 Crore, while net profit witnesses a 12% QoQ decline from ₹29.8 Crore.

CEO notes that H1 is a stronger period for the company, with core products like facewash, sunscreen, creams, and shampoos. Q3FY24 sees a 28% YoY sales growth, with approximately 10 lakh color care units sold, achieving an ARR of ₹150 Crore. The Derma Co. attains Ebitda positive status year-to-date.

Four out of six brands in the portfolio join the ₹150 Crore ARR club, showcasing the company’s capabilities. Strategic focus remains on purpose-based brand building, innovation, and distribution expansion.

In the quarter, employees exercise 36,95,191 stock options. Promoters of Momspresso resign, leading to a reversal of share-based payment expense of ₹47.47 million. The stock closes at ₹432.75 apiece on Friday, reflecting a 3.54% increase from the previous close on the BSE.

Mamaearth is an Indian company founded by Ghazal Alagh and Varun Alagh. Established in 2006, the company has a significant operating history. The headquarters of Mamaearth is situated in Gurugram, Haryana.

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