 "Q1 results: Adani Wilmar swings back into Rs 313 crore net profit")
Adani Wilmar has reported a net profit of Rs 313 crore in the June quarter, compared to a loss of Rs 79 crore in the year-ago period, as its volume and sales grew in Q1FY25.
The edible oil major saw its net sales increase by 9.6 per cent to Rs 14,169 crore in Q1FY25 and its volume growth during the quarter stood at 12 per cent. The Adani Group’s PBIDT (profit before interest, depreciation and tax) stood at Rs 680, up 246.1 per cent compared to Q1FY24.
Edible oil registered strong volume growth of 12 per cent year-on-year (Y-o-Y) and surpassed 1 million tonnes in the quarter. Its Food & FMCG sales crossed Rs 1,500 crore during the quarter, with an underlying volume growth of 42 per cent Y-o-Y, the company said in its release.
“Strong business momentum has led to increased market share in key product categories. In edible oils, ROCP (refined oil consumer pack) market share of Adani Wilmar increased by 60 bps Y-o-Y to 19 per cent on a moving annual total (MAT) basis, whereas in wheat flour, market share increased by 90 bps Y-o-Y to 5.9 per cent. Additionally, branded exports volume surged by 36 per cent Y-o-Y,” the company release said.
“The company’s revenue grew by 10 per cent Y-o-Y to Rs 14,169 crore. The consumer shift to branded staples is benefiting us significantly. We have delivered another strong quarter, with double-digit growth in both edible oils and Food & FMCG segments,” said Angshu Mallick, MD & CEO, Adani Wilmar.
He added, “With our trusted brand Fortune, we expect continued market share gains… Our food products are making significant inroads into Indian households, and we plan to meet this large demand by enhancing our food distribution through our edible oil network. In under two years since launching our dedicated HORECA distribution channel, we have surpassed Rs 500 crore in revenue on a last 12-month basis and achieved a 90 per cent Y-o-Y volume increase in Q1.”