Honasa Consumer, which owns and runs Mamaearth, recorded a 265 per cent increase in total net profit of Rs 26 crore for the quarter ended December. It cost Rs 7.1 crore a year ago.
Revenue from operations in the third quarter climbed 28 per cent year on year (YoY) to Rs 488 crore, up from Rs 382 crore in the same quarter the previous year.
Consolidated EBITDA increased 192 per cent YoY to Rs 34.5 crore in the reporting period, while margins expanded 397 basis points YoY to 7.1 per cent.
During the quarter, the firm created and grew new categories such as Mamaearth colour cosmetics, currently worth USD 150 million or more in annual revenue. Mamaearth increased its home penetration of facewash in two years by 280 percentage points and shampoo by 110 percentage points.
Younger brands continue to expand, with The Derma Co reaching EBITDA profitability. Approximately 122 new goods were introduced in CY23.
“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,” Varun Alagh, Chairman and CEO, Honasa Consumer.
Rosemary hair-care range scaled up using a data-driven approach to innovation, reaching an ARR of Rs 50 crore within 6 months of debut. Four of the company’s six brands have an ARR of at least Rs 150 crore.
The firm continued to improve and grow omnichannel distribution, adding over 1.7 lakh retail touchpoints and boosting distribution by 37 per cent YoY.
The 9MYTD YoY offline market share increased by 80 basis points in face washes and 40 basis points in shampoos.
“As we move forward, the focus continues to be on purpose-based brand building, innovation, and distribution expansion,” Alagh said.
