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Honasa Consumer Ltd rose 3.25% on the BSE to INR 431.70 during intra-day trading on May 24 from the previous close of INR 418.

10 This comes in a day after the company disclosed its first profitable fiscal year in FY24 The healthy uptick in Honasa's profits were also reflected in brokerage firms’ sentiment towards the startup Shares of Mamaearth parent Honasa Consumer Ltd rose 3.25% on the BSE to INR 431.70 during intra-day trading on May 24 from the previous close of INR 418.



10. The company’s market cap also jumped up to $1.68 Bn (INR 13,979.

79 Cr), from last Saturday’s (May 18) $1.58 Bn. The hefty spike in Honasa’s shares comes a day after the company reported improving financials for the fourth quarter of the fiscal year 2023-24 (Q4 FY24) as well as the entire fiscal.

The fiscal year FY24 was the listed beauty major’s first full year of profit, with it reporting a net profit of INR 110.5 Cr. In contrast, it incurred a loss of INR 150.

96 Cr in FY23. Similarly, operating revenue for the entire fiscal also jumped 30% to INR 1,919.6 Cr in the year ended March 2024 from FY23’s INR 1,492 Cr.

For the fourth quarter, its net profit jumped up 17% sequentially to INR 30.47 Cr from previous quarter’s INR 25.9 Cr.

The healthy uptick in Honasa’s profits were also reflected in brokerage firms’ sentiment towards the startup. JM Financials maintained a ‘BUY’ rating for the stock and gave it a price target of INR 505, a 17% upside from the stock’s current standing. W.

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