Honasa Consumer Ltd Achieves Record Quarterly Profit With Mamaearth Leading the Charge

Honasa Consumer Ltd reported a consolidated profit of Rs 30.47 crore for Q4 FY24, a significant turnaround from a loss of Rs 161.75 crore a year ago. Revenue grew 21.46% to Rs 471.09 crore, with Mamaearth expanding its retail footprint by 34% YoY.

Honasa Consumer Ltd, which owns FMCG brands such as Mamaearth and The Derma Co, on Thursday reported a consolidated profit after tax of Rs 30.47 crore for the fourth quarter ended March 2024.

It had a loss after tax of Rs 161.75 crore in the year-ago period, according to a regulatory filing by Honasa Consumer.

Its revenue from operations grew 21.46 per cent to Rs 471.09 crore in the fourth quarter of this fiscal. It was Rs 387.85 crore a year ago.

''With a 780-bps improvement in EBITDA margins year-on-year, Honasa Consumer clocked its highest ever quarterly Profit After Tax (PAT) of Rs 30 crore,'' Honasa Consumer said in its earnings statement.

Its total expenses stood at Rs 450.88 crore, up 12.66 per cent in the March quarter of FY24.

The company said it continued growth momentum in Q4 with increasing profitability and added its brand Mamaearth reached 1,88,377 FMCG retail outlets in India as of March 2024, increasing distribution up by 34 per cent Year-on-Year (YoY).

''New products accounted for around 18 per cent of FY24 revenue from operations,'' it said.

In the January-March quarter, the total income of Honasa Consumer rose 24.38 per cent to Rs 490.14 crore.

For the financial year ended on March 31, 2024, Honasa Consumer's profit after tax was Rs 110.52 crore. It reported a loss of Rs 150.96 crore a year ago.

In FY24, its revenue from operations increased 28.61 per cent to Rs 1,919.90 crore. The same was Rs 1,492.74 crore in FY23.

''Despite industry headwinds, Honasa has demonstrated remarkable resilience and growth for the quarter and fiscal, with a robust LFL growth of 23.3 per cent for the quarter and 31.6 per cent annually,'' its Chairman and CEO Varun Alagh said.

Shares of the company settled at Rs 418.10 apiece on the BSE, down 1.96 per cent from the previous close.

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