Adani Wilmar reports Q1 net profit at Rs 313 cr on higher volumes; total income rises

NEW DELHI: Adani Wilmar Ltd on Monday reported a consolidated net profit of Rs 313.20 crore for the first quarter of this fiscal on higher revenue from cooking oils and other food-FMCG products.

The company had posted a net loss of Rs 78.92 crore in the year-ago period.

The total income rose to Rs 14,229.87 crore during the April-June period this fiscal from Rs 12,994.18 crore in the corresponding period of the previous year, according to a regulatory filing.

Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar, is into edible oil, food & FMCG and industry essentials businesses. The company sells most of its products under the 'Fortune' brand.

The revenue of the edible oil business grew 8 per cent to Rs 10,649 crore in April-June of this fiscal from Rs 9,845 crore in the year-ago period.

Food and FMCG business revenue rose 40 per cent to Rs 1,533 crore from Rs 1,097 crore. The revenue of the industry essentials segment was flat at Rs 1,986 crore.

Adani Wilmar MD & CEO Angshu Mallick said, "The company's revenue grew by 10 per cent year-on-year (YoY) to Rs 14,169 crore. The consumer shift to branded staples is benefiting us significantly".