Adani Wilmar posted its earnings for the quarter ended March on Wednesday afternoon.
What Happened: The Adani Group company’s net profit for the quarter came in at ₹157 crore, up 67% from the 94 crore posted in the same quarter last year. The company recorded revenue of ₹13,238 crore, down 5% from the ₹13,873 crore posted in the corresponding quarter of last year.
The edible oil segment recorded revenue of ₹10,195 crores in Q4, down 6% from the previous year’s ₹10,790 crore. The volume grew by 11% year-on-year in Q4 to 0.98 million tonnes. The company said that its market share has also increased by 60bps to 19% on a MAT basis in edible oils, ROCP (Refined Oil Consumer Pack).
See Also: Adani Total Gas Sees Profit Jump 71% To ₹168 Cr In Q4
The Food & FMCG segment recorded revenue of ₹1,341 crores in the March quarter, up 16% from the ₹1,159 reported in the same quarter last year. Volumes for the segment was up 9% YoY at 0.28 million tonnes.
“The profitability of the company recovered in H2 of FY '24, after witnessing subdued profits due to high price inventory and the dis-alignment of the hedges in H1‘24,” the FMCG giant said in a press release.
Several Adani Group companies including Adani Enterprises, Adani Power, and Adani Ports are scheduled to report earnings later this week.
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