June 25, 2024

Business

Mamaearth's parent firm Honasa logs Rs 30 crore PAT in Jan-March quarter

Kaumimarg Bureau / IANS | May 23, 2024 07:06 PM

Honasa Consumer Ltd, the parent company of Ghazal Alagh and Varun Alagh-led Mamaearth, on Thursday reported quarterly profit after tax (PAT) at Rs 30 crore for the January-March quarter this year.

For the full fiscal year (FY24), Honasa delivered PAT of Rs 111 crore and 7.1 per cent EBITDA growth.

The company said it witnessed revenue from operations grow for the quarter at 21.5 per cent (year-on-year) and 28.6 per cent for the full fiscal year.

"Mamaearth's unwavering popularity among consumers has been a key driver of our continued success, while The Derma Co's is catching up and has recently achieved an annual run rate (ARR) of more than Rs 500 crore, highlighting our ability to craft and scale new-age beauty brands, " said Varun Alagh.

The consolidated revenue for Q4 FY24 stood at Rs 471 crore.

New products accounted for around 18 per cent of revenue from operations in FY24.

As per Honasa's internal estimates, its products command more than 30 per cent market-share in most online channels in sunscreens.

Addressing the ever-evolving consumer needs, Mamaearth has entered into the personal wash segment with a goal to capture a portion of the Rs 25, 000 crore personal wash market.

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