Shares of Honasa Consumer, the owner and operator of Mamaearth, saw a nearly 10% jump to reach the day’s high of INR 475 on the NSE on Monday. This surge came after the company reported a 265% year-on-year (YoY) growth in its consolidated net profit to INR 26 crore for the quarter ended December, up from INR 7.1 crore in the year-ago period.
Around 9:50 am, the NSE saw trading of over 18.53 lakh shares, with the total value of shares traded standing at INR 85.07 crore.
Continue Exploring: Mamaearth parent Honasa Consumer sees 250% YoY surge in net profit to INR 26.1 Crore in Q3FY24
In the third quarter, revenue from operations witnessed a 28% year-on-year (YoY) increase, reaching INR 488 crore, up from INR 382 crore recorded in the corresponding quarter of the previous year.
In the reporting quarter, consolidated EBITDA surged by 192% year-on-year (YoY) to INR 34.5 crore, with margins experiencing a YoY improvement of 397 basis points to 7.1%.
During the quarter, the company successfully established and expanded into new categories such as Mamaearth color cosmetics, which now boasts an annual recurring revenue (ARR) exceeding 150r+. Additionally, Mamaearth achieved remarkable growth in household penetration for facewash by 280 basis points and for shampoo by 110 basis points over the span of two years.
Younger brands continue their growth trajectory, with The Derma Co achieving EBITDA profitability. Additionally, approximately 122 new products were launched in CY23.
Continue Exploring: Nuvama analysts bullish on Mamaearth for MSCI Smallcap Index, Nykaa gaining momentum for Global Standard Index
