Adani WilmarAdani Wilmar, the leading edible oil manufacturer, has incurred a loss of Rs 79 crore in the first quarter of the current financial year. The company said on Wednesday that this loss was due to the fall in edible oil prices. The company had earned a net profit of Rs 194 crore in the same quarter of the last financial year. Adani Wilmar told the stock market that its total income also fell by 12 percent to Rs 12,928 crore in the June quarter from Rs 14,724 crore in the same quarter of the previous financial year. Adani Wilmar sells edible oils and other edible items under the Fortune brand. Angshu Malik, Managing Director and Chief Executive Officer (CEO), Adani Wilmar Limited said, “With the fall in edible oil prices, we have gained momentum in this segment. The fall in edible oil prices is good from the point of view of the industry.
Group has picked up momentum again: CEO
Angshu Malik, MD & CEO, Adani Wilmar Limited said, “With the fall in edible oil prices, we have regained momentum in our edible oil business. Soft prices of edible oils are a good sign for the industry. He further said that the company has gained a good market share through its regional brands. The company’s sales are segmented by region and category. Company to tap the opportunity in Value Added Blended Oils Expert Brand (Xpert) is investing under the brand. Our margin was impacted during the quarter due to higher costs.
,input language,