Adani Wilmar Revenue: Adani Wilmar, Adani’s retail food business company, has released the results for the second quarter of the financial year 2023-24 (Q2FY24). The company has suffered a loss of ₹131 crore in the July-September quarter.
The company had earned a profit of ₹48.76 crore during the same period of the last financial year. The company suffered a loss of Rs 78.9 crore in the first quarter of this financial year.
Adani Wilmar’s profit decreased
Adani Wilmar’s total profit has declined due to losses in the edible oil segment. Last month, the company said that there could be a decline in profit due to reduced imports and prices of edible oil. On November 1, Adani Wilmar’s shares opened at ₹327.
Revenue fell by 13%
During this period, the company’s revenue has fallen by 13% to ₹ 12,267 crore. It was ₹14,150 crore in Q2FY23. Talking about operations, the company’s EBITDA in the July-September quarter stood at ₹144 crore after a decline of 43%. Last year it was ₹254 crore.
The company has appointed an Additional Executive Director
The company has appointed Ravindra Kumar Singh as Additional Executive Director. As per the company’s website, Ravindra Kumar Singh has obtained a bachelor’s degree in Chemical Technology (Oil Technology) from Kanpur University. He joined the company on 14 July 2003. Singh will work as a full-time director in the company. His tenure will be for 3 years. Singh has 30 years of experience in the food business. Before here, Ravindra was working at the National Dairy Development Board.
Adani Wilmar Limited is a joint venture between Adani Group and Wilmar International Limited, headquartered in Singapore. The company is involved in the production and marketing of various food products.
Adani Wilmar Limited was founded in 1999.
Adani Wilmar is a joint venture between Adani Group and Wilmar International Limited, a leading agribusiness group based in Singapore.
The product portfolio of Adani Wilmar includes Fortune, King’s, Bullet, Raag, Avsar, Pilaf, Jubilee, Fryola, Alpha, Alife and Aadhar.
Adani Wilmar’s competitors: Umang Dairies, Anik Industries, Srivari Spices and Baba Agro Food