Adani Wilmar reports Rs194-cr Q1 net profits; pays 155% dividend
08 Aug 2022
1
Adani Wilmar has reported a 10 per cent year-on-year increase in its consolidated net profit, at Rs194 crore, for the first quarter of the current financial year ended 30 June 2022, as the company’s sales and volumes improved during the quarter.
Revenue from operations rose 30 per cent year-on-year to Rs14,731.62 crore during the quarter as the volumes increased 15 per cent year-on-year to 1.19 million tonnes.
“Adani Wilmar has continued to demonstrate a steady growth on overall volumes, led by an exceptional growth in the foods business. This is despite multiple headwinds that we saw during the quarter with inflation and low consumer offtake being the major concern areas. Our growth has been driven by GTM strategy focused on increased penetration in the semi-urban & rural regions. This increased penetration is also enabling us to grow the foods business at a faster pace,” Angshu Mallick, managing director and CEO of Adani Wilmar Limited, said.
Adani Wilmar's April-June quarter earnings were largely in-line with market expectations amid high edible oil prices.
However, the scrip fell over 2 per cent on Thursday despite the company posting a 10 per cent rise in profit.
Adani Wilmar stock has rallied over 155 per cent so far this year. The shares were quoting at Rs681 on NSE, down 2.5 per cent from the previous close.
The renewable energy arm of the group reported a 2 per cent year-on-year decline in its consolidated net profit at Rs214 crore. However, revenue from operations jumped by 67 per cent to Rs1,635 crore. The company's revenue from power supply also rose by 57 per cent to Rs1,328 crore, while the EBITDA improved by 60 per cent to Rs1,265 crore.
The company attributed the growth in revenue and EBITDA to capacity addition and improved solar and wind capital utilisation.
