According to the company, this was driven by the creation of brands offering specialised products tailored for Indian skin and weather conditions. It emphasised product differentiation in categories like face serums, hydrating sunscreens, sunscreen sticks, and acne patches. The company sold over 1 crore units in the last fiscal year.
In the active ingredients skincare segment, The Derma Co competes with brands including Peak XV Partners-backed Minimalist and A91 Partners-backed Plum, in addition to global brands such as The Ordinary and Cetaphil.
In its earning presentation for October-December quarter, Honasa had said that The Derma Co was profitable on an operating level for the first nine months of fiscal 2024.
Last year in September, ET had reported that The Derma Co which was launched in 2020 had crossed the Rs 350 crore mark during the June-quarter in FY24, making it the second brand in Honasa Consumer’s portfolio to do so after Mamaearth.
Honasa Consumer operates seven brands – Mamaearth, The Derma Co, Bblunt, Ayuga, Aqualogica, Dr Sheth’s and the recently launched colour cosmetics brand Staze.
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In August last year, the company’s hydration-based skincare brand Aqualogica had crossed ARR of Rs 150 crore.“Our success is an output of in-depth consumer study of the evolving consumer demands and being able to innovate swiftly to deliver differentiated propositions to our consumers. This focus on excellence has helped us set new benchmarks across the active ingredient-based skincare segment,” said Varun Alagh, cofounder, chairman and chief executive of Honasa Consumer Limited.
It reported 265% growth in its consolidated net profit to Rs 26 crore for the quarter ended December. It was Rs 7.1 crore a year ago. Revenue from operations in the third quarter increased 28% year-on-year (YoY) to Rs 488 crore, compared with Rs 382 crore in the same quarter of last year.