Honasa Consumer's profit rises 93% to Rs 29.4 crore in September quarter

Honasa Consumer Ltd, which owns FMCG brands such as Mamaearth and The Derma Co, on Wednesday reported an almost two-fold increase in its consolidated profit after tax to Rs 29.43 crore for the second quarter ended September.

It had a profit after tax of Rs 15.19 crore in the year-ago period, according to a regulatory filing from the company, which got listed on November 7.

Honasa Consumer's revenue from operations was up 20.85 per cent to Rs 496.10 crore in the second quarter of this fiscal. It was at Rs 410.49 crore in the same period a year ago.

Its total expenses stood at Rs 463.98 crore in the September quarter, up 18.25 per cent compared to the year-ago period.

In the latest September quarter, the company's total income jumped 21.09 per cent to Rs 503.18 crore.

"Honasa has been able to deliver market-beating growths and constantly improve the profitability portfolio of the company. Our business has grown by 33 per cent Y-o-Y in H1 FY24 which is 3.8 times the median growth of FMCG companies in India," its Chairman and CEO Varun Alagh said.

Shares of the company fell 4.05 per cent to close at Rs 352.10 on the BSE.