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Honasa Consumer Reports 28 Per Cent Revenue Growth, 264 Per Cent PAT Growth YoY In Q3FY24

The company posted a 264 per cent increase in its consolidated net profit to Rs 25.9 crore in the quarter that ended December 2023 from Rs 7.1 crore in the year-ago quarter.

Honasa Consumer Reports 28 Per Cent Revenue Growth, 264 Per Cent PAT Growth YoY In Q3FY24
Ghazal Alagh And Varun Alagh, Founders Of Honasa Consumer Ltd
POSTED ON February 09, 2024 6:44 PM

Honasa Consumer Ltd, the parent company of Mamaearth, announced its financial results for the quarter ending December 31, 2023. The company has witnessed a strong performance in Q3 with revenue growth of 28 and PAT growth of 264 per cent YoY. 

In the latest financial update, the company has showcased remarkable performance, with notable increases across various key metrics. 

  • Consolidated Revenue: The company recorded a consolidated revenue of Rs 488 crore in Q3 FY24. 
  • Sales Growth: Sales surged by 28 per cent year-on-year during the same period. 
  • EBITDA and Net Profit: The consolidated EBITDA witnessed a substantial growth of 192 per cent year-on-year, reaching Rs 34.5 crore, marking a 397 bps YoY increase. Moreover, the consolidated net profit soared by approximately 264 per cent year-on-year, totaling Rs 26 crore. 
  • Revenue Growth: Excluding the Just4Kids business, the company achieved a revenue growth of 31 per cent in Q3 FY24. 
  • Year-to-Date (YTD) Performance: The company's performance in the year-to-date FY24 period remained robust, with a 31 per cent year-on-year growth in revenue. Additionally, the EBITDA surged by approximately 305 per cent, amounting to Rs 104 crore, while the Profit After Tax (PAT) witnessed growth of around 642 per cent, reaching Rs 80 crore. 

Commenting on the business performance of Q3 FY24, Varun Alagh, chairman and CEO, of HCL, said, "The Q3 results are 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 ARR club and we see this as a testimony of our capabilities. Having built color care with Mamaearth showcases our ability to build new categories and the versatility of the brand. As we move forward, the focus continues to be on purpose-based brand building, innovation, and distribution expansion.” 

“The Derma Co. notably achieved an EBITDA positive status year-to-date, buoyed by hero products such as serums, sunscreens, and face wash. Aqualogica, Dr. Sheth’s, and BBlunt have each seen significant successes in their respective categories. Aqualogica continues to strengthen as a brand with its continuously increasing brand searches; while Dr Sheth’s continues to build in multiple categories, with moisturizers growing in winters,” the company added. 

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