Honasa Consumer Ltd, parent firm of skincare brand Mamaearth reported a net profit of Rs 30 crore ($3.7 million) for the quarter ended March 31, as against a loss of Rs 162 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 21 percent to Rs 471 crore, as against Rs 388 crore in the corresponding quarter of the previous fiscal.
For the full fiscal year of 2024, Honasa Consumer’s net profit stood at Rs 121 crore on a revenue of Rs 1,764 crore.
Commenting on the results, Varun Alagh, chairman CEO of Honasa Consumer Ltd in a statement said, “We have stayed committed to delivering growth, improving profitability, and increasing our distribution network. Mamaearth’s unwavering popularity among consumers has been a key driver of our continued success, while The Derma Co’s is catching up and has recently achieved an ARR of Rs 500 crore highlighting our ability to craft and scale new-age beauty brands.”
“Through our House of Brands approach, purpose-driven strategy, and placing emphasis on R&D and innovation, we aim solidify our position as frontrunners in the ever-changing BPC segment,” he added.
During the financial year, Mamaearth increased its distribution network by 34 percent to reach 188,377 FMCG retail outlets in India.
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