AHMEDABAD: FMCG Major,
Adani Wilmar
Limited, on Wednesday, announced the company posted a consolidated
net profit
of Rs 156 crore during the fourth quarter of FY 2024, up 59% against Rs 98 crore in the year-ago period. Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, sells edible oil variants, including mustard, sunflower and soybean.
The company’s
revenue
from operations fell 3% and settled at Rs 12,703.64 crore from Rs 13,121.89 crore during the same period.
While AWL’s edible oils grew by 11%, its Food & FMCG segment posted a 9% growth in volume terms.
AWL’s edible oil segment recorded revenue of Rs 10,195 crore in
Q4
and Rs 38,788 crore in FY24.
Angshu Mallick, MD & CEO, said, “We continued to witness strong volume growth in our edible oils & foods business driven by increased retail penetration. Improvement in branded mix in edible oils during the year has also led to better profitability for the company in the second half, with reported profit after tax in the second half of FY 2024 of Rs 358 crore and Rs 404 crore on a
consolidated
and standalone basis respectively.”
“The challenges faced by the company in Bangladesh operations have been overcome with the improved forex situation and fundamentals of the economy. The operations, however, have resumed normalcy this quarter,” he further added.
