Adani Wilmar 60% decline in its consolidated net profit at ₹93.61 crore
Adani Wilmar a leading producer of edible oils and food products in India reported on Wednesday that there is a 60% decline in its consolidated net profit at ₹93.61 crore for the quarter ended March 2023.
Its net profit in the last year was ₹234.29 crore.
Adani Wilmar said in a regulatory filing that the total income dropped to ₹13,945.02 crores in January-March 2022-23 from ₹14,979.83 crores in the last year period.
During the full last fiscal year, Adani Wilmar’s net profit dropped from ₹803.73 crore to ₹582.12 crore in the previous year. Total income, however, rose from ₹54,327.16 crore to ₹58,446.16 crore in the previous year.
Adani Wilmar sells edible oil under the Fortune brand. Apart from edible oils, the company sells various food items like rice and sugar.
It will be interesting to see how Adani Wilmar responds to this challenging business environment and what steps it takes to drive growth and profitability in the future.