Adani Wilmar‘s share price shot up sharply after the company posted its earnings for the April-June quarter.

What Happened: The company reported a consolidated net profit of ₹313.2 crore, compared with the ₹79 crore loss it booked in the same quarter last year. The Adani Group company’s revenue from operations stood at ₹14,168 crore, up around 9.6% from the ₹12,928 crore booked in the same quarter last year.

The company attributed the revenue growth to a 12% year-on-year increase in volume. Both the edible oils and food and fast-moving consumer goods (FMCG) segments delivered strong double-digit volume growth, with increases of 12% and 42%, respectively, supported by growth in packaged staple foods.

During the April-June period, the edible oil segment revenue grew by 8% to ₹10,649 crore, while the food and FMCG segment's revenue grew by 40% to ₹1,533 crore. The FMCG major also posted its highest-ever EBITDA of ₹619 crore, up on the back of stability in edible oil prices.

In the industry essentials segment, both oleo and castor oil clocked robust double-digit volume growth. However, the overall growth of the segment was impacted by a decline in the oil meal business.

Price Action: Adani Wilmar’s share price was up 6.72% to trade at ₹347 soon after the results came out.

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