Adani Wilmar sees Q2 standalone revenue to rise 16% on higher sales volumes

(Reuters) - India's Adani Wilmar said on Friday it expects second-quarter standalone revenue to grow 16%, on account of higher sales volumes at its mainstay edible oil segment and fast-growing foods business.

Edible oil prices showed signs of recovery in the quarter ended Sept. 30 compared to previous quarters, although they remained below year-ago levels, said analysts.

Adani Wilmar, which sells the "Fortune" brand of cooking oils, said sales volume for edible oils, its biggest business, rose 15% in the September quarter.

Volumes at the food business, the company's second-biggest, grew 31% in the quarter, it said.

Rival Marico, which makes the "Parachute" coconut oils, said on Wednesday it expects Q2 consolidated revenue to grow in the high single-digit percentage range.