New Delhi: Adani Wilmar Ltd on Monday reported a consolidated net profit of Rs 313.20 crore for the first quarter of this fiscal on higher revenue from cooking oils and other food-FMCG products.
The company had posted a net loss of Rs 78.92 crore in the year-ago period.
The total income rose to Rs 14,229.87 crore during the April-June period this fiscal from Rs 12,994.18 crore in the corresponding period of the previous year, according to a regulatory filing.
Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar, is into edible oil, food & FMCG and industry essentials businesses. The company sells most of its products under the 'Fortune' brand.
The revenue of the edible oil business grew 8 per cent to Rs 10,649 crore in April-June of this fiscal from Rs 9,845 crore in the year-ago period.
Food and FMCG business revenue rose 40 per cent to Rs 1,533 crore from Rs 1,097 crore. The revenue of the industry essentials segment was flat at Rs 1,986 crore.
Adani Wilmar MD & CEO Angshu Mallick said, "The company's revenue grew by 10 per cent year-on-year (YoY) to Rs 14,169 crore. The consumer shift to branded staples is benefiting us significantly".
"We have delivered another strong quarter, with double-digit growth in both edible oils and Food & FMCG segments. The edible oils volume grew by 12 per cent year-on-year to surpass 1 million tonnes, and the Food & FMCG volume grew by 42 per cent year-on-year, exceeding Rs 1,500 crore in Q1," he added.
The stability in edible oil prices augurs well for the company's business, allowing it to deliver strong profits over the past three quarters.
"In Q1 FY25, we achieved our highest-ever EBITDA of Rs 619 crores, a 375 per cent increase year-on-year and PAT (profit after tax) of Rs 313 crore. With our trusted brand, Fortune, we expect continued market share gains from regional brands. Our Food products are making significant inroads into Indian households, and we plan to meet this large demand by enhancing our food distribution through our edible oil network," he said.
Adani Wilmar said the company achieved revenue of Rs 14,169 crore in the April-June period of this fiscal, driven by 12 per cent year-on-year volume growth.
Both edible oils and food & FMCG segments delivered strong double-digit volume growth of 12 per cent year-on-year and 42 per cent year-on-year, respectively, aided by growth in packaged staple food.