Adani Wilmar Q3 results: Consolidated PAT surges 66% to Rs 211 crore

FMCG firm Adani Wilmar, which got listed last week, on Monday reported 66% jump in consolidated net profit at Rs 211 crore for the quarter ending December 31, 2021. It reported net profit of Rs 127 crore in the year-ago period.

The company's consolidated revenue from operations rose 40% to Rs 14,379 crore as compared to Rs 10,229 crore in Q3FY21.

Adani Wilmar is a 50:50 joint venture company between Ahmedabad-based Adani group and Singapore's Wilmar group.

At 1330 hours on Monday, the company's scrip on BSE was trading 2% higher at Rs 389.30.

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."

The company has a diversified product portfolio offering most of the primary kitchen essentials including edible oil, wheat flour, rice, pulses, besan and sugar with market leading positions across products. AWL’s flagship brand 'Fortune' reaches 90 million households, indicating that 1 out of every 3 household consumes a “Fortune” product, the company said.

Fortune is also the largest selling edible oil brand in India. AWL has 22 plants in India that are located across 10 states, comprising 10 crushing units and 19 refineries.

Adani Wilmar has raised Rs 3,600 crore through its Initial Public Offer (IPO), which hit the capital market on January 27 and closed on January 31.

The IPO was subscribed more than 17 times. Retail investors subscribed 3.92 times their part of allotted shares.

The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions as the company seeks to become India's biggest food and FMCG company.