Honasa Consumer, the parent company of Mamaearth, posted a consolidated net profit of 26.02 crore rupees (US$3 million) in Q3 FY25, up 0.4% from 25.90 crore rupees (US$2.9 million) a year ago, recovering from a net loss of 18.58 crore rupees (US$2.1 million) in the previous quarter.

Revenue rose 6% year-over-year to 517.51 crore rupees (US$59.6 million), with a 12% sequential increase, though volume growth was just 1.5% due to changes in the company’s channel mix.

As part of “Project Neev,” launched in Q2 FY25, Honasa revamped its distribution strategy by increasing its Tier-I distributors’ share from 38% in FY24 to 69% across 50 major cities.

Honasa refuted claims by the All India Consumer Products Distributors Federation (AICPDF) that Project Neev led to unsold inventory and financial strain, while its stock closed 2.64% higher at 206.20 crore rupees (US$23.5 million) on Feb. 13.

Recent Honasa developments