Honasa Consumer Ltd, owner of Mamaearth and The Derma Co, saw its shares jump 20% after reporting a near doubling of profit in Q2 FY24. The company's revenue also grew significantly.
Photograph: Niharika Kulkarni/Reuters
New Delhi, Nov 23 (PTI) Shares of Honasa Consumer Ltd, which owns FMCG brands such as Mamaearth and The Derma Co, on Thursday jumped 20 per cent after the company reported an almost two-fold increase in its consolidated profit after tax for the second quarter ended September.
The stock zoomed 19.99 per cent to reach its upper circuit limit of Rs 422.50 on the BSE.
At the NSE, it surged 19.99 per cent to reach its highest trading permissible limit for the day at Rs 423.75.
Honasa Consumer Ltd on Wednesday reported an almost two-fold increase in its consolidated profit after tax to Rs 29.43 crore for the second quarter ended September.
It had a profit after tax of Rs 15.19 crore in the year-ago period, according to a regulatory filing from the company, which got listed on November 7.
Honasa Consumer's revenue from operations was up 20.85 per cent to Rs 496.10 crore in the second quarter of this fiscal. It was at Rs 410.49 crore in the same period a year ago.
Total expenses stood at Rs 463.98 crore in the September quarter, up 18.25 per cent compared to the year-ago period.
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