Honasa Consumer Ltd, the overarching company behind the direct-to-consumer brand Mamaearth, reported a net profit of INR 26.71 Cr in the fourth quarter of the fiscal year 2023-24 (FY24), the company disclosed today.
Significantly, throughout the fiscal year FY24, the startup saw profits totaling INR 120.96 Cr, a notable shift from the INR 120.55 Cr loss it faced in the preceding fiscal year.
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Regarding Q4, the net profit experienced a 7% quarter-on-quarter (QoQ) decrease from the previous quarter’s INR 28.91 Cr. Looking at it from a year-on-year perspective, the company has managed to reverse course from the INR 151.49 Cr loss it incurred in Q4 FY23.
Operating revenue surged by 18% to INR 427.16 Cr in Q4 FY24, up from INR 360.3 Cr in the same quarter of the previous year. However, this represented a 13% sequential decrease from the operational revenue of INR 488.2 Cr in Q3 FY24.
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In the quarter, the startup’s total expenditure also increased by 13% to INR 408.5 Cr from INR 362.44 Cr in Q4 FY23. The largest expenditure was attributed to purchase costs, amounting to INR 138.7 Cr in Q4 FY24, compared to INR 109.07 Cr in the corresponding quarter of the previous year.
Operating revenue for the fiscal year also saw a 26% increase, rising to INR 1,764.3 Cr from INR 1,394.8 Cr.
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