Newly-listed Adani Wilmar said its consolidated net profit for the December quarter surged 66 percent year-on-year (YoY) to Rs 211.41 crore. The firm had reported a net profit of Rs 127.39 crore in the same quarter last year.
The revenue from operations for the quarter came in at Rs 14,378.66 crore, up 40.56 percent compared to the year-ago quarter.
Angshu Mallick, MD, 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."
The firm said its revenue from the edible oil segment stood at Rs 12,118 crore during the quarter under review, growing 40 percent. Volume growth stood at 9 percent. The food and FMCG segment saw revenue at Rs 704 crore, up 46 percent. Industry essential segment revenue was at Rs 1,557, growing 41 percent.
The company said it gained edible oil market share by 9 bps in the quarter, while in the wheat floor market the market share gain was 140 bps. During the nine-month of the current fiscal, Adan Wilmar's consolidated volume stood at 3.50 MMT (million metric tons), registering a growth of 4 percent.
In the period, the company also commissioned an additional Oleochemical plant with a capacity of 400 tons per day (TPD) at Mundra, and with this, the total capacity now doubled to 800 TPD. With the strategy to grow the food basket, it has also commissioned 150 TPD Chana Besan plant in Nagpur and 50 TPD Soya Nuggets plant in Haldia.