Recently listed stock engaged in the business of manufacturing, marketing, and supplying beauty and personal care products jumped 5 percent in the day’s trade following the release of its Q3FY24 results with a 263 percent jump in net profit.
With a market capitalization of Rs. 14,228 Crores, the shares of Honasa Consumer Limited were trading at Rs. 442.20, up 2.18 percent from its previous close price of Rs. 432.75.
Its revenue from operations grew by 27.75 percent YoY from Rs. 382.15 Crores in Q3FY23 to Rs. 488.21 Crores in Q3FY24 and it declined 1.59 percent QoQ from Rs. 496.1 Crores in Q2FY24 to Rs. 488.21 Crores in Q3FY24.
Its Net Profit grew by 263.74 percent YoY from Rs. 7.12 Crores in Q3FY23 to Rs. 25.9 Crores in Q3FY24 and it declined 11.99 percent QoQ from Rs. 29.43 Crores in Q2FY24 to Rs. 25.9 Crores in Q3FY24.
Honasa Consumer Limited is engaged in the business of manufacturing, marketing, and supplying beauty and personal care products through its digital platform.
Honasa Consumer Limited has a wide presence with a reach of 8,000+ stores across 31 modern trade chains and it has reached 1,77,366 FMCG retail outlets in India increasing distribution by 37 percent.
Honasa Consumer has built an in-house portfolio of digital-first consumer brands like Mamaearth, Derma Co., Aqualogica, Ayuga, Blunt, and Dr. Sheths.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 35.34 percent stake, the Domestic Institutional Investors hold 17.58 percent and the Foreign Institutional Investors (FII) hold 10.12 percent.
Written by: Bharath K.S
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