Mamaearth parent, Honasa Consumer, posts highest quarterly profit of ₹30.4 cr
Mamaearth, Aqualogica, Bblunt among others, showed a profit of ₹30.4 crore in the March-ended quarter, up from a loss of nearly ₹160 crore in the same quarter last year.Revenue from operations for the quarter rose 21% to ₹450.8 crore amid slowing retail demand.In FY24, the direct-to-consumer brand made a profit of ₹111.7 crore, against a loss of ₹142.8 crore in the year-ago period. Operating revenue rose 28% to ₹1,919.9 crore for the year ended 31 March.Also Read: Mamaearth’s IPO had lessons for investorsHonasa acquired 65.49% in Fusion Cosmeceutics Pvt.
Ltd. which sells skin care and beauty products under the brand Dr.
Sheth's in the previous financial year. It acquired the remaining stake of 34.51% for a consideration of ₹30 crore, according to filings made with the stock exchanges on Thursday.The company announced the acquisition of Cosmogenesis Laboratories on Thursday.
It said the deal will close over the next 4-6 weeks. Cosmogenesis will "strengthen Honasa's R&D capabilities", the firm said.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
