Honasa Consumer [HONASA] Shares Surge 11% on Stellar Q4 Performance; Brokerages See Continued Upside
Mamaearth parent Honasa Consumer [HONASA] witnessed an impressive 11% stock surge following its robust Q4 FY24 results, reporting a 177% jump in net profit and 23% revenue growth. Analysts from Jefferies and CLSA maintain a positive outlook, citing strong growth momentum.
Brokerage Recommendation
Jefferies
Honasa Consumer [HONASA], the parent company behind popular D2C brands like Mamaearth and The Derma Co., recently reported stellar financial results for the fourth quarter of fiscal year 2024, sending its shares soaring by 11%. The impressive performance has further solidified analyst confidence in the company's growth trajectory.
For Q4 FY24, Honasa Consumer [HONASA] announced a remarkable 177% year-on-year increase in net profit, reaching ₹69 crore. This significant jump underscores the company's improved profitability and operational efficiency. Revenue from operations also saw a healthy uptick, climbing over 23% to ₹657 crore compared to the same period last year. Contributing to the strong earnings print was a substantial 186% surge in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), indicating robust core business performance.
The positive quarterly results have caught the attention of leading brokerage firms. Analysts at Jefferies and CLSA have reiterated their optimistic ratings on Honasa Consumer [HONASA], highlighting the company's sustained growth momentum and improving execution across its brand portfolio. Their continued positive stance suggests they believe the company has more room to run, projecting further potential upside for the stock.
Hona Consumer's [HONASA] focus on expanding its brand reach, diversifying product offerings, and strengthening its omnichannel presence appears to be yielding significant dividends. Investors will be keenly watching how the company leverages this momentum in the upcoming quarters.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult your financial advisor before making any investment decisions. StockTips.in is not a SEBI-registered investment advisor.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult your financial advisor before making any investment decisions. StockTips.in is not a SEBI-registered investment advisor.