Honasa Consumer Ltd (HCL), the parent company of direct-to-consumer (D2C) brands such as Mamaearth, The Derma Co, and Bblunt reported a 263 percent rise in net profit to Rs 26 crore ($3.2 million) for the third quarter ended December 2023, as against Rs 7 crore in the same quarter of the previous fiscal year.
The company’s revenue for the quarter rose by 28 percent to Rs 488 crore, as against Rs 382 crore reported in the corresponding quarter of the previous fiscal year.
Honasa’s total expenses for the quarter were Rs 464 crore, up from Rs 378 crore a year ago.
Commenting on the results, Varun Alagh, chairman CEO of HCL in a statement said, “The Q3 results is a testimony of our deep understanding of the beauty market in India. 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 annual recurring revenue club and we see this as a testimony of our capabilities. Having built colour care with Mamaearth showcases our ability to build new categories and versatility of the brand. As we move forward, focus continues to be on purpose-based brand building, innovation, and distribution expansion,” he added.
Honasa Consumer Limited is the largest digital-first beauty and personal care company with a diverse portfolio of six brands.
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