Skincare brand Mamaearth‘s parent firm Honasa Consumer reported its second quarter earnings on Thursday after markets closed.

What Happened: The beauty brand swung to a loss in the July to September quarter. It posted a loss of ₹18.5 crore compared to a profit of ₹29.4 crore in the same period last year. In Q1, Mamaearth posted a net profit of ₹40.2 crore. Analysts had mixed expectations from the firm. Kotak Institutional Equities expected the firm to post a ₹50 lakh loss whereas Antique Broking saw the firm recording a ₹7 crore profit.

Revenue from operations stood at ₹461.8 crore, a 6.9% year-on-year fall from ₹496.1 crore. For the April to June period, the company had reported an operational revenue of ₹554 crore. On average, analysts had estimated the company to report a revenue of ₹500 crore. The company reported an EBITDA loss of ₹31 crore.

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In early October, Honasa’s shares tumbled after a Dubai court had asked for the attachment of its assets as part of an ongoing legal dispute with RSM General Trading LLC. RSM had initiated a lawsuit against the former, alleging that its distributorship was unlawfully terminated.

RSM also requested a precautionary attachment of Honasa's assets in the United Arab Emirates and the cancellation of its trading license. The court approved the attachment of Honasa's assets but declined to revoke its trading license.

Honasa, founded by Ghazal Alagh and Varun Alagh, also owns several popular brands, including Aqualogica, The Derma Co, and Dr Sheth’s.

Price Action: Shares of Mamaearth closed 3.77% to ₹378 on Thursday.

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