Mamaearth's parent, Honasa Consumer, reports over 3x increase in profit for Q3; shares surge

Shares Honasa Consumer, the parent company of Mamaearth, gained over 4 per cent in morning deals on Monday (February 12), continuing a winning streak for the second consecutive session and touching an intra-day high of Rs 474.35 apiece. The stock soared after the beauty and personal care company's Q3 profit more than tripled.

At around 10:02 a.m., shares of Honasa Consumer traded 2.81 per cent, or Rs 12.15, higher at Rs 444.9 apiece. The market capitalisation of the company at around the same time stood at Rs 14,314.51 crore.

Honasa Consumer Q3 results

Honasa Consumer Ltd, which owns FMCG brands including Mamaearth and The Derma Co., reported on Friday after market hours a three-fold jump in consolidated profit after tax (PAT) at Rs 25.9 crore for the December quarter FY24.

It logged a PAT of Rs 7.12 crore in the year-ago period, according to a regulatory filing from the company, whose shares were listed last November.

The revenue from operations rose to Rs 488.21 crore from Rs 382.15 crore. Total expenses stood at Rs 464.46 crore, up 22.7 per cent year-on-year. Total income in the December quarter was up 28.3 per cent to Rs 499.18 crore.

Management commentary

"As we move ahead to capture this market further, our innovation-driven brand-building playbook uniquely positions us to identify many opportunities to continue our growth trajectory. Four out of six brands from our portfolio are already in the Rs 150 crore ARR (Annual Recurring Revenue) club, and we see this as a testimony of our capabilities," said Chairman and CEO Varun Alagh.

Honasa Consumer share price: Past performance 

In 30 days shares of Honasa Consumer have lost over 6 per cent against the Nifty 50's decline of 0.96 per cent.

(With input from agencies)

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.