Mamaearth Q2 Results: Honasa Consumers net profit doubles to ₹30 crore in first results post listing, revenue up 21% detail
Honasa Consumer, the parent company of Mamaearth, reported a net profit of ₹30 crore in Q2 FY24, up from ₹14.43 crore in the same period last year. This represents a growth of 109% year-on-year (YoY).
Revenue from operations also grew by 21% YoY to ₹722.73 crore in Q2 FY24.
The company’s strong performance in Q2 was driven by healthy growth across all its brands, including Mamaearth, The Derma Co, and BBlunt. Mamaearth, the company’s flagship brand, continued to be the main growth driver, with revenue growing by 25% YoY in Q2 FY24.
Honasa Consumer also attributed its strong performance to its focus on innovation and brand building. The company has been investing heavily in developing new products and expanding its distribution network. It has also been increasing its marketing and advertising spends to reach a wider audience.
Looking ahead, Honasa Consumer is optimistic about its growth prospects. The company expects to continue to benefit from the growing demand for personal care products in India. It also plans to expand its international presence and launch new products in the coming months.
Here are some additional highlights from Mamaearth’s Q2 results:
Gross margin expanded by 80 basis points to 68% in Q2 FY24.
Operating margin improved from -3% in Q2 FY23 to 1% in Q2 FY24.
The company’s EBITDA doubled to ₹21.6 crore in Q2 FY24.
Overall, Mamaearth’s Q2 results were very impressive. The company is well-positioned for continued growth in the years to come.
