Honasa Consumer Ltd, the owner of popular FMCG brands Mamaearth and The Derma Co, has announced a nearly two-fold increase in its consolidated profit after tax for the second quarter ending in September. The company reported a profit after tax of Rs 29.43 crore, up from Rs 15.19 crore in the same period last year.
The revenue from operations also saw a significant uptick, rising by 20.85 percent to reach Rs 496.10 crore in the second quarter of the fiscal year, compared to Rs 410.49 crore in the corresponding period in the previous year.
Total expenses for the September quarter stood at Rs 463.98 crore, marking an 18.25 percent increase from the year-ago period. Meanwhile, total income for the quarter saw a 21.09 percent jump to Rs 503.18 crore.
Honasa Consumer’s Chairman and CEO, Varun Alagh, expressed satisfaction with the company’s performance, stating, “Honasa has been able to deliver market-beating growths and constantly improve the profitability portfolio of the company. Our business has grown by 33 percent year-on-year in H1 FY24, which is 3.8 times the median growth of FMCG companies in India.”
In response to the announcement, the company’s shares fell 4.05 percent to close at Rs 352.10 on the BSE. Honasa Consumer was listed on November 7 and its financial performance has drawn attention in the FMCG sector.
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