Honasa Consumer, the parent company of Mamaearth, reported disappointing Q2 FY2024 results, leading to a significant drop in its share price.
Financial Performance:
Revenue: ₹461.82 crore, down 6.9% YoY.
Net Loss: ₹18.57 crore, compared to a profit of ₹29.43 crore in Q2 FY2023.
EBITDA Margin: Dropped to 4.1% after inventory adjustments.
Market Impact:
Stock Plunge: 20% drop, reaching a 52-week low.
Investor Sentiment: Weak earnings and operational challenges led to negative sentiment.