AHMEDABAD: Food and Beverage conglomerate, Adani Wilmar Limited, posted a 60% decline in its consolidated net profit throughout the fourth quarter of fiscal 12 months 2022-23, the corporate stated in its inventory trade submitting on Wednesday. The firm posted a profit of Rs 93.6 crore as in comparison with Rs 234.29 crore within the corresponding quarter. During the complete fiscal 12 months, the corporate’s profit after tax stood at Rs 582 crore, down 28% in opposition to the earlier fiscal.
The firm’s income from operations additionally dropped to Rs 13,872.6 crore throughout the quarter, down 7% in opposition to Rs 14,917.2 crore within the corresponding quarter of FY 2022.
The firm reported it crossed 5 million metric tonne (MMT) of gross sales volumes throughout the fiscal 12 months. While its revenues from the meals phase doubled in two years to Rs 4,000 crore; wheat flour and rice companies additionally crossed Rs 1,000 crore in income throughout the fiscal.
“A large market opportunity in India is translating well into our growth numbers. We have almost doubled our Food & FMCG revenues in two years and recorded Rs 4,000+ crore revenue in the segment. In edible oil, branded sales, with 75% saliency, we have done significantly better with 8% YoY volume growth in FY ’23. In the Industry essentials segment, we made good progress with our forward integration plans in specialty chemicals,” stated Angshu Mallick, managing director and chief government officer, Adani Wilmar Limited.
“Our margins during the quarter and full year got impacted by high-cost inventory in a falling edible oil price environment, inflation impact on our operational costs and an increase in interest costs due to rate hikes,” he additional provides.
The firm’s income from operations additionally dropped to Rs 13,872.6 crore throughout the quarter, down 7% in opposition to Rs 14,917.2 crore within the corresponding quarter of FY 2022.
The firm reported it crossed 5 million metric tonne (MMT) of gross sales volumes throughout the fiscal 12 months. While its revenues from the meals phase doubled in two years to Rs 4,000 crore; wheat flour and rice companies additionally crossed Rs 1,000 crore in income throughout the fiscal.
“A large market opportunity in India is translating well into our growth numbers. We have almost doubled our Food & FMCG revenues in two years and recorded Rs 4,000+ crore revenue in the segment. In edible oil, branded sales, with 75% saliency, we have done significantly better with 8% YoY volume growth in FY ’23. In the Industry essentials segment, we made good progress with our forward integration plans in specialty chemicals,” stated Angshu Mallick, managing director and chief government officer, Adani Wilmar Limited.
“Our margins during the quarter and full year got impacted by high-cost inventory in a falling edible oil price environment, inflation impact on our operational costs and an increase in interest costs due to rate hikes,” he additional provides.
