Adani Wilmar Q3 results: Net profit jumps 66% to Rs 211 cr, revenue up 40%

Adani Wilmar Ltd, the joint venture between Adani Group and Wilmar Group of Singapore, on Monday reported a 66 per cent year-on-year rise in its consolidated net profit at Rs 211 crore for the quarter ending December 31, 2021. The company had posted a net profit of Rs 127 crore in the year-ago period. 

Revenue from operations also rose 40.5 per cent to Rs 14,379 crore in the quarter under review as against Rs 10,229 crore in the same quarter last fiscal, whereas FMCG revenue was up 46 per cent to Rs 703 crore.

The company's EBIDTA grew 60.3 per cent at Rs 503 crore in the quarter under review as against Rs 314.30 crore in the same quarter last fiscal, while during April-December 2022 period, it stood at Rs 1,420 crore as compared to Rs 1,050 crore in the same period of 2021, registering a growth of 35 per cent.

Adani Wilmar's EBITDA margin came at 3.5 per cent as against 3.1 per cent YoY. 

The company also stated that food business clocked revenue of Rs 1,865 crore in the nine month period compared to Rs 1,400 crore in April-December 2021, registering a YoY growth of 33 per cent.

Commenting on the quarterly results, Angshu Mallick, Managing Director and CEO, Adani Wilmar Limited said, “We have been able to continue our business performance in line with what we have been able to showcase in the recent past. As we go forward our focus will be to grow our food business so that it can contribute reasonably well in our overall basket."

Shares of Adani Wilmar traded 2.05 per cent higher at Rs 388.80 apiece on the BSE during late trade on Monday.

Last week, the Gautam Adani group-owned Adani Wilmar Ltd's market capitalisation had crossed over Rs 50,000 crore on NSE and the shares zoomed as much as nearly 20 per cent to lock in upper circuit limit.

On NSE, the recently-listed scrip rallied 19.99 per cent to the upper price band of Rs 386.25.

As per NSE data, market capitalisation of the company stood at over Rs 50,200 crore.