Adani Wilmar rose 1.27% to Rs 385.85 after the company reported 38% rise in consolidated net profit to Rs 211 crore on a 41% increase in revenue to Rs 14,379 crore in Q3 FY22 over Q3 FY21.
Profit before tax in Q3 FY22 was Rs 306 crore, up 79% YoY.
Overall sales volume in Q3 FY22 stood at 1.26 MMT, up 6% QoQ. Food & FMCG vertical sale volume during the quarter was 0.17 MMT, up 36% QoQ.
The company added 5 new fortune mart stores. With this, the total Fortune Mart stores count is 18 spread across India.
Commenting on the quarterly results of the company, Angshu Mallick, managing director and CEO, Adani Wilmar, said, We have been able to continue our business performance in line with what we have been able to showcase in the recent past. As we go forward our focus will be to grow our food business so that it can contribute reasonably well in our overall basket.
Adani Wilmar (AWL), a joint venture between Adani Group of India and Wilmar Group of Singapore, is one of the largest consumer Food FMCG companies in India. The company has a diversified product portfolio offering most of the primary kitchen essentials including edible oil, wheat flour, rice, pulses, besan and sugar.
Shares of Adani Wilmar debuted on the bourses on 8 February 2022. The scrip was listed at Rs 221, representing a discount of 3.91% to the initial public offer (IPO) price of Rs 230.
The initial public offer (IPO) of Adani Wilmar was subscribed 17.37 times. The issue opened for bidding on 27 January 2022 and it closed on 31 January 2022. The price band of the IPO was fixed at Rs 218-230.
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