Ahmedabad (Gujarat) [India], January 27 (ANI): Adani Wilmar reported its highest-ever quarterly net profit of Rs 411 crore in the October-December quarter, up by 105 per cent year-on-year. In the year-ago quarter, the profit after tax was at Rs 200.89 crore.
The company has been delivering strong profits over the last five quarters.
The company also reported its highest-ever revenue of Rs 16,859 crores in the December quarter, up by 31 per cent year-on-year, with underlying volume growth of 5 per cent year-on-year.
The company achieved a healthy volume growth of 5 per cent year-on-year, despite significant price hikes driven by a surge in raw material costs.
Similarly, the Adani Group company reported its highest-ever quarterly operating EBITDA of Rs 792 crores in the December quarter, up by 57 per cent year-on-year.
Its food and FMCG recorded revenue growth of 22 per cent year-on-year in the December quarter, with an underlying volume growth of 23 per cent year-on-year. Trailing 12 months (TTM) revenue was at Rs 6,150 crores.
The Adani company has been expanding its distribution network to access more towns, reaching over 43K rural towns directly by the end of December 2024.
This marks substantial progress from just over 5,000 towns in March 2022. The company said that the goal is to reach over 50,000 rural towns by the end of 2024-25 and drive the penetration of outlets as well as volume offtake in these new outlets.
In Q3, revenue from alternate channels increased at a strong double-digit rate YoY, with revenue over the past 12 months at around Rs 3,300 crores. The e-commerce (including quick commerce) sales volume continued to grow rapidly at 41 per cent YoY.
Commenting on the results, Angshu Mallick, MD and CEO, Adani Wilmar Limited said, “The Company’s revenue grew by 31 per cent YoY to Rs 16,859 crores. We have delivered another strong quarter, with double-digit growth in both edible oils and Food and FMCG segments. The edible oils revenue grew by 38 per cent YoY and the Food and FMCG revenue grew by 22 per cent YoY.”
“Our overall Food and FMCG business has crossed Rs 6,150 crores on TTM basis and we stay committed to building a very large packaged food business in India,” said Mallick.
“The Company has been becoming stronger and more diversified. Most of our strategies have been yielding positive results. Our edible oils have gained market share in underindexed markets and under-indexed categories like Sunflower oil and Mustard Oil. In wheat flour, we outpaced industry growth during the year,” the MD and CEO added.
Separately, Adani Enterprises recently said it is set to exit a joint venture with Wilmar and for that, it signed an agreement with Wilmar International.
Adani Enterprises in late December 2024 informed stock exchanges that it will sell 13 per cent of Adani Wilmar to achieve minimum public shareholding requirements and Wilmar International has agreed to acquire 31 per cent held by Adani Enterprises in Adani Wilmar.
With this, Adani Enterprises will fully exit the Adani Wilmar platform. Adani Enterprises said it will use the proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy and utility, transport and logistics and other adjacencies in primary industry. (ANI)
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