Honasa Consumer Q4 FY24 profit surges to ₹30.4 cr, shares up 7%

Shares of the company opened higher at ₹445 per share and gained further to hit a high of ₹448, up by 7.08% over the previous close on the NSE. Nearly 20 lakh shares of the company traded on the exchange in morning deals.

The stock rose by around 7% to hit a high of ₹447.70 per share on BSE.

Honasa Consumer reports ₹30.4 crore profit in March quarter

Honasa Consumer Ltd reported a consolidated profit after tax of ₹30.4 crore for the March quarter of FY24 against a loss of ₹161.78 crore in the year-ago period. The company had reported a PAT of ₹25.9 crore in the December quarter of FY24. Revenue from operation rose by 21% to ₹471 crore in the last quarter of FY24 compared to ₹387.80 crore in the year-ago quarter. Revenue was at ₹488.2 crore in the previous December quarter.

The consolidated EBITDA (earnings before interest tax depreciation and amortisation) improved by 780 basis points to ₹33 crore in the March quarter of FY24 compared to the year-ago quarter.

For the full fiscal, the company reported 28.6% YoY growth in consolidated revenue to ₹1,920 crore compared to ₹1,492 crore in FY23. New products accounted for around 18% of FY24 revenue from operations.

The company reported a 562 basis points improvement in consolidated EBITDA to ₹137 crore for FY24. Profit after tax increased by 5.8% to ₹111 crore in 2023-24 against a loss of ₹150 crore in the previous year.

The company informed the stock exchanges that it consistently outpaced market growth and would continue its strategic market expansion to strengthen its presence in the beauty and personal care industry.

Mamaearth reached 1.88 lakh FMCG retail outlets in India as of March 24, increasing distribution up by 34% YoY.

Shares of Mamearth were trading 2.8% higher at ₹430.30 apiece on the NSE at 11:40 am.