Honasa Consumer posts Rs 39 cr profit in Q2

New Delhi, Nov 12 (PTI) Honasa Consumer Ltd, which owns FMCG brands such as Mamaearth and The Derma Co, on Wednesday reported a consolidated profit of Rs 39.22 crore for the September quarter.

It had reported a loss of Rs 18.57 crore in the July-September period a year ago, according to a regulatory filing.

Honasa Consumer's revenue from operations was up 16.5 per cent to Rs 538.06 crore in the September quarter as against Rs 461.82 crore a year ago.

"UVG in Q2 remains strong at 16.7 per cent, showcasing the resilience and volume-led growth of the core business," the company said in an earnings statement.

Total expenses of Honasa Consumer stood at Rs 505.45 crore, marginally down in the September quarter.

The total income of Honasa Consumer, which includes the other income, was at Rs 558.20 crore, up 15.84 per cent in the September quarter.

Commenting on the results Chairman and CEO & Co-founder Varun Alagh said: "Our focus categories continued to contribute over 75 per cent of total revenues and reaffirming the success of our category-first strategy, while deeper distribution and brand building enhanced consumer engagement across India." In the September quarter, its flagship brand Mamaearth come back in green.

In the first half (H1), total consolidated income of Honasa Consumer was at Rs 1,177.34 crore, up 11.63 from the corresponding period.

Over the outlook, Alagh said, "We're expanding into new and fast-growing segments. With Luminéve, our first prestige skincare brand launched exclusively on Nykaa, we have entered the premium skincare space with a focus on night skincare and deep repair powered by global ingredient science." Honasa has also invested in Fang, an oral care brand focused on teeth whitening and everyday oral wellness.

Shares of Honasa Consumer Ltd on Wednesday settled at Rs 281.95 on the BSE, up 2.25 per cent from the previous close. PTI KRH TRB