Edible oil major Adani Wilmar on Monday reported a 66 per cent increase in its consolidated net profit at Rs 211.41 crore for the quarter ended December on higher sales.
Its net profit stood at Rs 127.39 crore in the year-ago period.
Total income rose to Rs 14,405.82 crore in the third quarter of 2021-22, from Rs 10,238.23 crore earlier.
The company's net profit rose to Rs 569.45 crore during the April-December period of this fiscal, against Rs 413.51 crore in the year-ago period.
Total income also increased to Rs 39,362.95 crore in the first three quarters of 2021-22 from Rs 26,496.18 crore in the corresponding period of the previous year.
This is the first quarterly result announced by Adani Wilmar after it got listed on the stock exchanges.
Adani Wilmar, a joint venture between Adani Group and Wilmar Group of Singapore, has raised Rs 3,600 crore through its Initial Public Offer (IPO), which hit the capital market on January 27 and closed on January 31.
The IPO was subscribed more than 17 times. Retail investors subscribed 3.92 times their part of allotted shares.
The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions as the company seeks to become India's biggest food and FMCG company.
Adani Wilmar sells its cooking oils and some other food products under the Fortune brand.
Apart from cooking oils, Adani Wilmar sells food products like rice, wheat flour and sugar. It also sells non-food products like soap, handwash and sanitisers.
