Updated May 1st, 2024 at 17:47 IST

Adani Wilmar posts 67% increase in profit to Rs 156.75 crore for Q4FY24

The company which is a JV between Adani Enterprises and Wilmar International had seen its net profit at Rs 93.61 crore in the year-ago period.

Reported by: Business Desk
Revenue from operations fell 4.6 per cent to 132.38 billion rupees, its fifth consecutive quarter of decline. | Image:Adani Wilmar
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Adani Food, FMCG arm: Adani Wilmar, which has a presence in edible oil and food-FMCG businesses, reported a 67.5 per cent rise in its fourth-quarter profit on Wednesday, seeing its consolidated net profit reach Rs 156.75 crore for the quarter ended March despite lower revenue.
The company which is a joint venture between Adani Enterprises and Wilmar International had seen its net profit at Rs 93.61 crore in the year-ago period, said a statement. 

The company's total income fell to Rs 13,342.26 crore in the January-March period of the last fiscal year from Rs 14,185.68 crore in the year-ago period, according to a regulatory filing. Adani Wilmar said sales volume rose 11 per cent during the January-March period, driven by strong festive demand and increased retail presence. Its total expenses fell 6.6 per cent, led by a 9 per cent decline in raw materials costs.

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Revenue from operations fell 4.6 per cent to 132.38 billion rupees, its fifth consecutive quarter of decline. The company had last month reported lower revenue for fiscal 2024 due to weaker edible oil prices. Revenue from Adani Wilmer's edible oil segment, which accounted for 77 per cent of the total mix, declined 5.5 per cent, while revenue from its food and fast-moving consumer goods segment, which sells products like basmati rice and sugar, increased 15.7 per cent. 

Rival Marico, which is the maker of the Saffola brand of cooking oils, is expected to report its fourth-quarter results on Monday. Shares of both Adani Wilmar and Marico fell 9.4 per cent in the January-March period, underperforming the Nifty FMCG Index , which was down 5.3 per cent.

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(With agency inputs) 

 

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Published May 1st, 2024 at 17:47 IST