Shares of Adani Wilmar Ltd skyrocketed 6% on 29 July after the company announced its quarterly earnings for April-June. 

In its quarterly earnings, the company reported a net profit of Rs 323 crore for the quarter under review from Rs 38.44 crore net loss reported in the same quarter last year. The joint venture company between Adani Enterprises and Wilmar International is selling edible oil variants, including sunflower, mustard, and soybean. 

The revenue from operations of the company during the quarter stood at Rs 13,750.04 crore, marking an 11% year-on-year increase from Rs 123.78.83 crore reported in the same quarter last year. 

The earnings before interest, tax, depreciation, and amortisation (EBITDA) during the quarter stood at Rs 619 crore, marking a 375% YoY increase due to stability in edible oil prices. 

The company’s edible oil registered strong volume growth of 12% YoY, surpassing 1 million metric tonnes in the June quarter. 

Angshu Mallick, MD & CEO of Adani Wilmar Limited, said, “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.”

Mallick added that in just two years since introducing our dedicated  HORECA distribution channel, the company has surpassed Rs 500 crore in revenue in the last twelve months. 

At 2:17 pm, the shares of Adani Wilmar were trading 6.09% higher at Rs 344.95 on NSE.

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