Mamaearth parent Honasa Consumer reports net loss of ₹19 Crore

18 Nov 2024 , 12:53 PM

Honasa Consumer Ltd, the owner of FMCG brands Mamaearth and The Derma Co, recorded a net loss of ₹18.6 Crore for the second quarter ended September 30, 2024.

In the preceding fiscal quarter, Honasa Consumer reported a net loss of ₹29.4 Crore, according to a regulatory filing. The company’s revenue from operations decreased by 6.9% to ₹461.8 Crore compared to ₹496 Crore in the previous fiscal year.

In the second quarter of this fiscal year, the operating EBITDA loss was ₹30.7 Crore, compared to ₹40.1 Crore in the same period last year.

Honasa Consumer’s younger brands, which include The Derma Co., Aqualogica, BBlunt, and Dr. Sheth’s, grew by more than 30% year on year in both quarters.

Focus categories, notably face cleansers, sunscreens, and face serums, saw year-over-year growth of more than 28% in the first half, adjusted for inventory corrections, and continue to gain market share. These categories currently account for over 50% of the company’s total business.

In retail, off-take remains higher than competitors, with Mamaearth items gaining popularity. According to NielsenIQ statistics for September 2024, Mamaearth face washes and shampoos grew their offline value market share by 125 basis points year on year.

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