 "Mamaearth Q4 results: Records highest-ever quarterly profit at Rs 30.5 cr")
Honasa Consumer Ltd, the parent firm of D2C brands Mamaearth, The Derma Co and BBlunt, on Thursday reported highest-ever quarterly net profit of Rs 30.5 crore for the fourth quarter of 2023-24 (Q4FY24). It had reported a loss of Rs 161.8 crore in Q4FY23 and a profit of Rs 25.9 crore a quarter ago (Q3FY24).
Its consolidated revenue from operations grew 21 per cent Y-o-Y to Rs 471.1 crore in Q4FY24, up from Rs 387.9 crore in Q4FY23 and Rs 488.2 crore in Q3FY24.
Honasa also turned net profitable for the entire financial year at Rs 110.5 crore, from a loss of Rs 150.9 crore the previous year. Consolidated revenue from operations grew to Rs 1,919.9 crore from Rs 1,492.7 crore reported at the end of FY23.
The Gurugram-based firm’s total expenses in Q4FY24 came in at Rs 450.9 crore, up from Rs 400.2 crore a year ago and Rs 464.5 crore a quarter ago.
“Mamaearth’s unwavering popularity among consumers has been a key driver of our continued success, while Derma Co is catching up,” said Varun Alagh, chairman and CEO, Honasa Consumer.
Alagh added that, going forward, the company focus remains on seizing “untapped opportunities” in the beauty market by tailoring brands and creating products that resonate with next-gen Indian consumers.
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“Through our House of Brands approach, purpose-driven strategy, and placing emphasis on R&D and innovation, we aim to solidify our position as frontrunners in the ever-changing BPC segment,” he said.
The company said its Q4 FY24 sales grew by 21.5 per cent YoY, while its consolidated EBITDA improved by 780 bps at Rs 33 crore.
According to the firm, its data-driven product innovations played a significant role in driving growth, with new offerings contributing approximately 18 per cent to its FY24 revenue from operations.
These include products like the Mamaearth Hibiscus Range, Mamaearth Beetroot Hydraful Sunscreen, The Derma Co 1% Hyaluronic Long Lasting Sunscreen, Aqualogica illuminate + Dewy Sunscreen, Dr. Sheth’s Gulab and Glycolic Acid Serum, and BBlunt Dry Shampoo.
The company has also entered a binding agreement to acquire Cosmogenesis laboratories, in a bid to strengthen its R&D capabilities.
Meanwhile, Mamaearth reached 188,377 FMCG retail outlets in India as of March 2024, increasing distribution up by 34 per cent YoY. Moreover, The Derma Co scaled to an impressive annual run rate of more than Rs 500 crore in Q4.