Mamaearth parent’s stock: A day after the skincare company reported its highest-ever quarterly net profit for the January–March quarter of FY24, Honasa Consumer, the discern organization of Mamaearth, noticed a 7% boom in its stocks throughout early buying and selling on May 24.
Honasa Consumer’s stocks have been buying and selling at the NSE at Rs 430.60 a percentage at 10.22 am. Positive Q4 earnings helped drive up volumes in the counter, as 11 lakh shares have traded so far on the exchanges, exceeding the average of 5 lakh shares traded daily over a month.
In the fourth quarter of FY24, the company managed to turn the tide significantly, posting a notable net profit of Rs 30 crore. This marks a stark contrast from the same period last year when they grappled with a substantial loss of Rs 160 crore. What’s particularly noteworthy is the company’s resilience in overcoming an exceptional loss Of Rs one hundred fifty-five crore at some point of the equal duration within the preceding economic year.
In the March quarter, the company witnessed a robust 21.46 percent growth in revenue, reaching Rs 471.09 crore compared to Rs 387.85 crore in the same period last year. Additionally, there was a notable expansion of 780 basis points in the company’s EBITDA margin, which further buoyed investor sentiment. -Mamaearth parent’s stock
The company acknowledged that its network expansion played a pivotal role in sustaining growth momentum during Q4 and bolstering profitability. By March 2024, the company had expanded its FMCG outlets to an impressive 1,88,377 across India. This expansion translated into a significant 34 percent year-on-year increase in distribution, underscoring the company’s commitment to reaching and serving a broader consumer base.
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Varun Alagh
Even in the face of industry challenges, Honasa has showcased remarkable resilience and growth throughout the quarter and fiscal year, stated Varun Alagh, the company’s Chairman and CEO. Our like-for-like sales surged impressively by 23.3 percent for the quarter and an even more noteworthy 31.6 percent annually. This performance underscores our commitment to navigating adversity and delivering value to our customers.
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