Home Editor Picks Mamaearth parent, Honasa Consumer, posts highest quarterly profit of ₹30.4 cr

Mamaearth parent, Honasa Consumer, posts highest quarterly profit of ₹30.4 cr

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Mamaearth parent, Honasa Consumer, posts highest quarterly profit of  ₹30.4 cr


Bengaluru: Honasa Consumer, the parent of consumer brands Mamaearth, Aqualogica, Bblunt among others, showed a profit of 30.4 crore in the March-ended quarter, up from a loss of nearly 160 crore in the same quarter last year.

Revenue from operations for the quarter rose 21% to 450.8 crore amid slowing retail demand.

In FY24, the direct-to-consumer brand made a profit of 111.7 crore, against a loss of 142.8 crore in the year-ago period. Operating revenue rose 28% to 1,919.9 crore for the year ended 31 March.

Also Read: Mamaearth’s IPO had lessons for investors

Honasa acquired 65.49% in Fusion Cosmeceutics Pvt. Ltd. which sells skin care and beauty products under the brand Dr. Sheth’s in the previous financial year. It acquired the remaining stake of 34.51% for a consideration of 30 crore, according to filings made with the stock exchanges on Thursday.

The company announced the acquisition of Cosmogenesis Laboratories on Thursday. It said the deal will close over the next 4-6 weeks. Cosmogenesis will “strengthen Honasa’s R&D capabilities”, the firm said.

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Published: 23 May 2024, 05:29 PM IST



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