Honasa Consumer, the parent of skincare brand Mamaearth, has posted a loss of Rs 151 crore in the fiscal year 2023 (FY23), against a profit of Rs 14.4 crore last year.
The Delhi-based company, Mamaearth, experienced a significant increase in operating revenue in FY23, reaching Rs 1,493 crore compared to Rs 943 crore in the previous year.
However, total expenditure also rose to Rs 1,502 crore from Rs 942 crore. Employee benefit cost rose by 109 per cent to Rs 1,649 crore, while other expenses surged by 50 per cent to Rs 8,584 crore. Mamaearth became India’s first unicorn of 2022 after raising USD 52 million in a funding round led by Peak XV Partners.
The company is set to make its debut in the public market on 31 October. Honasa Consumer, the owner of several beauty brands, including The Derma Co and Aqualogica, is expected to raise Rs 10,500 crore in the IPO. However, the timing and valuation have raised concerns among industry observers. Mamaearth was also in talks to raise a pre-IPO round of USD 120 million to USD 150 million.
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