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Shares of Honasa Consumer surged over 7% following a previous 10% upper circuit limit, recovering from a significant drop below its IPO price earlier this month. Despite this rebound, concerns linger over a slowdown in consumption growth, as the company reported its first quarterly loss since listing, with a net loss of Rs 18.5 crore for the September quarter. The market capitalization remains below $1 billion, reflecting a 40% decline in the past month and over 50% in three months.
Honasa Consumer shares plummeted over 18% on November 19, hitting a 52-week low of Rs 242.4, following weak Q2FY25 results that revealed a net loss of Rs 19 crore compared to a profit of Rs 29 crore last year. Year-to-date, the stock has declined nearly 40%, significantly underperforming the Nifty 50"s 9% gain, with market capitalization now below $1 billion.
Honasa Consumer reported its first quarterly loss in five quarters, incurring a loss of Rs 19 crore for the July-September period, compared to a profit of Rs 29 crore in the same period last year. Revenue also declined by 7% year-on-year, falling from Rs 496 crore to Rs 462 crore, while total expenses surged by 9%. The downturn is attributed to the company's transition to a direct-to-consumer distribution model under Project 'Neev', which has led to necessary inventory corrections.
Hero MotoCorp, Glenmark, Adani Total Gas, IGL, Cyient, ACME, Delhivery, Crompton Greaves, and Honasa Consumer are in focus for Monday's trading session. Additionally, Godavari Biorefineries, Waaree Energies, Valecha Engineering, and Samyak International are set to release their quarterly earnings on November 18.
Honasa Consumer Limited, the parent company of Mamaearth, reported a loss of Rs 18.5 crore for the September quarter, a significant drop from a profit of Rs 40 crore in the previous quarter and down 163% from Rs 29.4 crore a year ago. The company's revenue fell to Rs 461.8 crore, down from Rs 554 crore in June and Rs 496 crore year-on-year, while total expenses increased by 9% YoY to Rs 506 crore. The downturn is attributed to the transition to a direct-to-consumer model under Project 'Neev', leading to necessary inventory corrections.
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