The company's total income fell to Rs 13,342.26 crore in the January-March period of the last fiscal year from Rs 14,185.68 crore in the year-ago period, according to a regulatory filing
The consumer goods maker said it bagged strong growth in both its edible oils and foods businesses, aided by strong demand during the festival of Holi and ongoing wedding season
Q3 is a very big quarter...Overall edible oil growth is flattish, but when you look at the packed segment, it has shown a growth rate of 4-5 per cent, said Angshu Mallick, MD and CFO of Adani Wilmar
Subdued demand from institutional clients in the edible oil segment and its lower pricing hurt third-quarter earnings, the Adani group-owned company had said in a quarterly update earlier in January
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Adani Commodities and Lence Pte, the promoters of the company, will be divesting part of their shareholding, Adani Wilmar said in an exchange filing
ITC is now the largest FMCG company in India as it recorded food sales of Rs 17,100 crore during the first nine months of 2023-24
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"We are currently studying whether to keep or divest Wilmar stake," group CFO said
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This comes at a time when Adani Wilmar Ltd has been posting losses for two consecutive quarters
Adani Wilmar last month said its profitability in the September quarter remained under stress due to lower edible oil prices
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Rural sales grew at a faster rate due to a higher focus on increasing its rural distribution network
Sales value from edible oil constituted a hefty 74% of the company's topline in the September quarter. Low edible oil prices also contributed to its swing to loss in the June quarter
In an exchange filing with the BSE, AEL said Green Vitality RSC had on Tuesday, Oct 3, acquired an additional 643,134 equity shares representing 0.06% total equity in the company from the open market.
Adani Ports, NDTV, Adani Enterprises, Adani Energy Solutions, Adani Total Gas, Adani Wilmar, Ambuja Cements and ACC were up in the range of 2 per cent to 10 per cent on the BSE.