Mamaearth products to be available at 1,000 Reliance retail stores

Honasa Consumer Ltd shares gained 3% on Wednesday to ₹448.85 per piece after falling almost 5% in the previous session. The stock pared the gains later in the day and traded around ₹429.45 apiece on the NSE, down by 1.41% at 3:15 pm.

Mamaearth’s collaboration with Reliance Retail will bolster its offline channel presence and make its products accessible to a wider customer base.

“The partnership with Reliance Retail is also an extension of our endeavour to make toxin-free, safe products accessible to a wider set of consumers. We are 1000 stores strong now and with the increasing demand for Mamaearth products, we will hopefully continue to grow and increase our footprints through this collaboration,” Varun Alagh, co-founder and CEO of Honasa Consumer Ltd, said in a press release.

For the quarter that ended on March 31, 2024, Honasa Consumer reported a consolidated profit after tax (PAT) of ₹30 crore, after posting net losses of ₹162 crore in the same quarter last year.

Its revenue from operations witnessed a healthy growth of 21% to ₹471 crore in the March quarter compared to ₹388 crore in the corresponding quarter of the previous fiscal year.

The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) margin expanded sharply to 7% in Q4 FY24 as opposed to a negative 0.8% in the year-ago period.