Adani Wilmar Limited (AWL), the leading company in the food oil sector, posted a net profit of 10 percent for the first quarter ending in June. Gautam Adani Group’s profit of this company reached Rs 193.59 crore in the quarter. According to the company, profits increased during the quarter due to high prices.
The company earned a net profit of Rs 175.70 crore in the April-June quarter of the financial year 2021-22. In the first quarter of the current financial year 2022-23, the total income of the company increased to 14,783.92 crore rupees, which was 11,369.41 crore rupees in the same period of the previous financial year.
What did the CEO say: Adani Wilmar’s managing director and chief executive officer (CEO) Angshu Malik said that there are finally signs of relief due to the softening of the prices of some items, which is likely to improve demand in the coming quarter. Adani Wilmer has a diversified product portfolio, which includes edible oil, flour, rice, pulses, gram flour and sugar, and most of the domestic household goods.
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Its main brand ‘Fortune’ is the best-selling edible oil brand in India. The company has 23 plants in 10 states of India, including 10 grinding units and 19 refineries.