Honasa Consumer, the parent entity of the popular brand Mamaearth posted its earnings for the quarter ended March on Thursday.

What Happened: The personal care brand reported a 21% increase in revenue to ₹471 crore in the March quarter, compared to the same period last year. The company achieved a net profit of ₹30.4 crore, reversing a loss of ₹162 crore in the corresponding quarter of the previous year. This was the company’s highest-ever quarterly profit. For the full year profit after tax was at ₹111 crore.

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Consolidated EBITDA for the quarter surged by 192% YoY to ₹34.5 crore, with margins improving by 397 basis points YoY to 7.1%. The company said that as of March 2024 the brand has expanded its reach to 188,377 FMCG retail outlets across India, marking a 34% year-on-year increase in distribution.

Sharing his thoughts on the business performance in the March quarter, Varun Alagh, chairman and CEO, Honasa Consumer said "As we reflect on quarter and year, we are extremely happy to share that despite industry headwinds.”

Price Action: Honasa’s share price was down 1.89% to close at ₹418.35 on Thursday.

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