The parent company of direct-to-consumer (D2C) brand such as Mamaearth, Honasa Consumer Ltd reported a 264 per cent year-on-year increase in its net profit to 25.9 crore for the third quarter (Q3) of the financial year 2023-24 (FY24), compared to 7.1 crore in the same period a year ago.

The consolidated revenue of the company from operations grew 28 per cent year-on-year to Rs 488.2 crore, up from 382.2 crore a year ago and 496.1 crore in Q2 FY24.

The total expenses of the company for the quarter were 464.5 crore, up from 378.5 crore a year ago and 463.9 crore a quarter ago.

Originated in the year 2016 by the husband-wife duo Varun & Ghazal Alagh, Mamaearth sells a array of beauty and personal care (BPC) products across categories including hair care, body care, and makeup. Also, Honasa also sums brands such as The Derma Co., Aqualogica, Ayuga, BBlunt, and Dr. Sheths in its portfolio.

Speaking to this, Varun Alagh, Chairman and Chief Executive Officer, Honasa Consumer says, “The Q3 results are a testimony to our deep understanding of the beauty market in India. Four out of six brands from our portfolio are already in the Rs 150 crore Annualised Revenue Rate (ARR) club and we see this as a testimony to 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”.

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