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Mamaearth Share Price: Mamaearth share price nse 2023
This quarter marks Mamaearth's first financial report after its stock market debut. The company reported a revenue of Rs 496 crore for the September quarter, indicating a 21 percent year-on-year increase.
As a result of Mamaearth's strong financial performance, Jefferies has issued a buy rating. Consequently, the share price surged by almost 10 percent to Rs 387.05 on the BSE intraday. At present, the shares are trading at Rs 375.85, reflecting a 6.75 percent increase.
Jefferies has not specified a target price for Mamaearth yet.
Despite a slower growth rate in the September quarter compared to the preceding June quarter, Jefferies acknowledged the robust financial position of Honasa Consumer. The brokerage attributed the decrease in quarterly growth to a shift in Enterprise Resource Planning (ERP). However, Jefferies emphasized that the company exhibited over 35 percent growth in the first half of the current financial year (April-September 2023).
Analyzing the September quarter:
- Revenue for Mamaearth in the September quarter was Rs 496 crore, marking a 21 percent YoY increase.
- Net profit doubled to Rs 30 crore during this period.
- The company's business grew by 33 percent YoY in the first half of the financial year 2023-24.
- In contrast, FMCG companies experienced only a 3.8 percent growth during the same period.
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