Adani Wilmar Q2 Results: Operating Profit Surges Nearly Fourfold

• Revenue rises 17.9% to Rs 14,460.45 crore.

• Ebitda rises 294% to Rs 566.19 crore.

• Margin at 3.9% versus 1.2%.

• Net profit up at Rs 311 crore versus loss of Rs 131 crore.

Sharing the segment-wise statistics, the company said its revenue from food and fast-moving consumer goods business grew 34% to Rs 1,718 crore during the September quarter, with an underlying volume growth of 33% YoY.

The edible oil segment revenue grew 21% YoY to Rs 10,977 crore, with an underlying volume growth of 17% as compared to the corresponding period of the previous fiscal.

The revenue from the industry essential segment, however, declined by 9% YoY to Rs 1,766 crore.

"We have delivered another strong quarter, with double-digit growth in both edible oils and Food and FMCG segments," Chief Executive Officer Angshu Mallick said. "The stability in edible oil prices augurs well for our business, allowing us to deliver strong profits over the past four quarters."

"We have been the second and third largest player in wheat flour and Basmati rice business, respectively. On the back of trust and quality, along with branding investments, our flagship brand 'Fortune' has been gaining good acceptance with consumers for the entire range of kitchen essentials. This along with the increasing retail penetration and new towns reach is leading to strong growth in our banded portfolio," Mallick added.

Shares of Adani Wilmar soared after the second quarter results were declared. The stock peaked 8.3% to an intraday high of Rs 344.65 apiece on the NSE, before settling 6.93% higher at Rs 340.3. In comparison, the benchmark Nifty 50 settled 0.15% lower.