Mamaearth Q3 Results: Cons PAT zooms 93% YoY to Rs 50 crore, revenue rises 16%

Honasa Consumer on Thursday reported a 93% rise in December quarter consolidated net profit at Rs 50 crore, compared to Rs 26 crore posted by the Mamaearth parent in the same period a year ago. The profit after tax (PAT) is attributable to the owners of the company. Operating income from operations stood at Rs 602 crore in Q3FY26, a growth of 16% compared to Rs 518 crore in the October-December period of FY26.

Operating profit grew 28% sequentially from Rs 39 crore in Q2FY26, while revenue saw 12% growth quarter-on-quarter from Rs 538 crore.

However, revenue from like-for-like operations in the third quarter stood at Rs 630 crore, up 22% year-on-year, which is the highest ever quarterly revenue for the company, the company said in filings with the stock exchanges.

During the year ending March 31, 2025, the holding company implemented the ‘Neev’ project, switching to a direct distribution model across the 50 largest cities. As part of this transition, the company discontinued the super inventory tier and certain direct distributors, replacing them with higher quality Tier 1 distributors to serve retailers.

As a result of this restructuring, the company generated sales revenues of Rs 63.51 crore during FY25, with a corresponding inventory/right to return assets of Rs 11 crore. As of December 31, 2025, the outstanding provision for sales returns related to this transition stood at Rs 3.41 million, with no remaining inventory or right of return.

Younger brands continued to build scale and recorded growth of more than 25%. Derma Co. maintained strong momentum, maintaining a double-digit EBITDA profile while scaling efficiently. Offline execution continued to improve, with a focus on the top 100 cities. Direct sales coverage covered 1 lakh outlets, while total distribution grew by over 25% year-on-year to 2.7 lakh outlets. Also read: HAL Q3 results: Profit rises 30% YoY to Rs 1,867 crore; co declares Rs 35/share dividend

Continued investment in product innovation, with Mamaearth Rice Face Wash and BBlunt Intense Moisture Shampoo performing strongly against leading national and international competition.

Management commentary

Commenting on the third quarter performance, CIO and co-founder Ghazal Alagh said innovation and re-innovation remain central to how the company builds its brands at Honasa. “Products like Mamaearth Rice Face Wash and BBlunt Intense Moisture Shampoo performing strongly against leading national and international benchmarks reaffirm our belief that consumers reward true product superiority. As we move forward, our focus remains clear: strengthening the fundamentals, investing in better science and sharper execution, and continuing to build Honasa as a house of purpose-driven brands anchored in long-term sustainable growth,” said Alagh.

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