Adani Wilmar Q3: Net Profit Rises By 16% To Rs 246 Crore In December Quarter

According to a regulatory filing, Adani Wilmar’s total income was Rs 15,515.55 crore in the third quarter of this fiscal, up from Rs 14,398.08 crore a year-ago period. 

Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar.  ( Image Source :Getty )

Adani Wilmar Limited on Wednesday reported a 16 per cent rise in its net consolidated profit to Rs 246.16 crore for the third quarter ending December 2022. Its net profit was Rs 211.41 crore in the same period last year. 

According to a regulatory filing by the firm, Adani Wilmar’s total income was Rs 15,515.55 crore in the third quarter of this fiscal, up from Rs 14,398.08 crore a year-ago period. 

However, the company's net profit during the April-December period of this fiscal fell to Rs 488.51 crore compared to Rs 569.45 crore in the year-ago period, the filing showed. 

Its total income in the first nine months of this fiscal rose to Rs 44,501.14 crore against Rs 39,347.33 crore a year ago.

The company said that in Q3 of FY23, Adani Wilmar Limited recorded 16 per cent volume growth and 7 per cent revenue growth. This was achieved on the back of the large opportunity available in the packaged food industry, well supported by our portfolio of premium and popular brands, pan-India distribution, and manufacturing facilities across the length and breadth of the country.

Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar. 

"We are expanding our product portfolio with region specific products, ready-to-cook products, and category adjacencies. The company is progressing well in the forward integration of its industry essential business, resulting in the growth in sales of specialty chemicals, in addition to the growth in basic oleochemicals from capacity expansion," said Angshu Mallick, managing director and chief executive officer, Adani Wilmar.

The company witnessed a strong demand on the back of festivities and weddings, gradual recovery in rural markets, and a bumper Kharif crop, he added.

According to the company, edible oils contributed 66 per cent in the volumes but 81 per cent in the total revenue. The food and FMCG segment contributed 15 per cent by volume to the overall sales and delivered 27 per cent volume growth in the third quarter of this fiscal. 

Wheat flour and rice have been growing well on the back of increased distribution reach and new product launches, Adani Wilmar said in its filing.