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Published: Jan 31, 2024 6:54 PM | 1 min read
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Adani Wilmar on Wednesday reported Rs 12,828.4 crore consolidated revenue in the third quarter of the current financial year. This is 17% decline on a YoY basis from ₹15,438 crore the firm had posted in the same quarter a year ago.
The company’s consolidated net profit stood at Rs 201 crore in the quarter ended December 31, 2023 (Q3FY24), registering an 18.4% drop on a year-on-year basis. The Adani Group firm had posted a net profit of ₹246.2 crore in Q3FY23. The decline in profit, the company said, was "due to high-cost inventory and hedge dis-alignment."
EBITDA (Earnings before interest, taxes, depreciation, and amortization) was Rs 503.8 crore, dropping 16.7% on a YoY basis, from ₹605 crore in Q3FY23.
Commenting on the results, Angshu Mallick, MD & CEO of Adani Wilmar Ltd, said: “We continued to witness the growth momentum in packaged staple foods driven by a shift in consumer preferences for hygienic and quality products. The revenues from the branded products in the domestic market, under the Food & FMCG segment have been growing at 40%+ YoY in the past nine quarters enabling us to close FY24 with an estimated around ₹5,000 crores of revenue in the segment."
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