Nature-inspired Beauty firm 'Mamaearth' becomes India's 3rd largest Skincare Brand!
Mamaearth, a D2C firm based in Gurugram, India, revealed that it has been recognized as the 3rd most popular skincare brand in the country, according to the latest claims by Euromonitor International.
Moreover, the company also moved from 13th to the 9th position in the ranking of India's most popular beauty and personal care companies.
According to the last report made by Euromonitor, the Direct to Consumer Company Mamaearth Sheikh has made inroads and strengthened its position in the crowded market.
Another brand owned by Honasa Consumer, The Derma Co., has reached this milestone while being positioned as the largest active-based skincare brand in India. Following this, the CEO of Honasa Consumer, Varun Alagh, reported this was achieved due to their focus on providing natural toxin-free products as well as his customers’ trust.
Honasa Consumer's new brands include Aqualogica, Dr. Sheth's, and BBlunt as part of its growing portfolio to meet the demand of the Indian market. The flagship brand of Honasa, Mamaearth has provided revenue figures which recorded a 17.6% rise on a quarter to quarter basis showing that it generated revenue worth Rs 554 crores and recorded a PAT of 
40 crores, the highest ever reported.
40 crores, the highest ever reported.
A month ago, there was an offloading of shares amounting to 1,600 crore ($190 million) by the company's early investors.
1,600 crore ($190 million) by the company's early investors.
The company 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.
382.2 crore a year ago and 496.1 crore in Q2 FY24.Read More News :
Man operates from Village in Tamil Nadu wins 'Best Founder' title! Tap to Know the 'Worst Founder'
