Adani Wilmar posts ₹323cr profit in Q1, highest-ever EBITDA
What's the story
Adani Wilmar, a collaboration between Adani Enterprises and Wilmar International, reported a substantial standalone net profit of ₹323 crore for the quarter ending June 30, 2024. This figure contrasts sharply with the loss of ₹38.44 crore, recorded during the same period in the previous year. The company's revenue from operations also saw an increase to ₹13,750.04 crore from last year's ₹12,378.83 crore.
Business highlights
Stable edible oil prices boost company
Adani Wilmar, renowned for its range of edible oil products including mustard, sunflower, and soybean oils, achieved its highest-ever EBITDA of ₹619 crore. This represents a year-on-year increase of 375%. The company attributes this surge to the stability in edible oil prices. Adani Wilmar's edible oil business clocked strong volume growth of 12% YoY, and crosses the one million MT figure in June quarter. Food & FMCG sales surpassed ₹1,500 crore, with an underlying volume growth of 42% YoY.
Stock performance
Adani Wilmar's shares surge
After the public announcement of its Q1 results, Adani Wilmar's shares saw a significant increase in value on the BSE. The shares rose by 6.13% to ₹345.15 each, reflecting investor confidence in the company's robust financial performance.