Honasa Consumer Q1 Profit More Than Doubles To ₹90.5 Cr, Revenue Up 27%
Honasa Consumer, the parent company of Mamaearth, reported a consolidated net profit of ₹90.5 crore for the quarter ended June, more than doubling from ₹41.3 crore in the previous year. Revenue increased by 27% year-on-year.
Honasa Consumer, the parent company of beauty brand Mamaearth, announced its net profit for the first quarter of the fiscal year nearly doubled to ₹90.5 crore, compared to ₹41.3 crore during the same period last year. This marks a significant increase in profitability for the beauty and personal care company.
The company's operating revenue saw a substantial rise of 27%, reaching ₹755.9 crore from ₹595.3 crore in the prior year's first quarter. On a sequential basis, revenue grew by 15%.
Total expenses for the quarter increased by 17% year-on-year to ₹659.3 crore. Purchases of traded goods rose by 41% year-on-year to ₹240.2 crore, indicating higher product sourcing to meet demand. Employee benefit expenses also saw an increase of 10%.
The reported figures suggest a strong performance by Honasa Consumer in the competitive beauty and personal care market, driven by increased sales and potentially improved operational efficiencies.