Honasa Consumer has reported a loss of Rs 19 crore for the July-September period, compared to a profit after tax of Rs 29 crore in the same period last year.

The company's revenue also declined by 7 percent year-on-year, dropping from Rs 496 crore to Rs 462 crore.

The increase in total expenses, which surged 9 percent year-on-year to Rs 506 crore, has been attributed to the ongoing transition to a direct-to-consumer distribution model under Project 'Neev'.

This shift has necessitated inventory corrections, impacting the company's financial performance.

Following the earnings report, brokerages have cut target prices for Honasa Consumer, reflecting concerns over its recent downturn.