Adani Wilmar’s stellar performance in December quarter, 66 percent jump in profit

After the results, the share of Adani Wilmar closed at Rs 376, down 1.23 per cent. CEO and Managing Director Angshu Malik said that the company’s performance was as per expectations.

211 crore profit.

Edible Oil Company Adani Wilmar (Adani Wilmar) of Integrated Net Profit (consolidated net profit) grew by 66 per cent to Rs 211.41 crore in the October-December quarter of the current financial year. The company gave this information on Monday. With this, its net profit in the third quarter of the previous financial year was Rs 127.39 crore. The total income of the same company increased to Rs 14,405.82 crore in the quarter ended December 31, from Rs 10,238.23 crore in the corresponding quarter of the previous financial year. Apart from this, the company’s net profit increased to Rs 569.45 crore during the first nine months of the current financial year i.e. April-December. It was Rs 413.51 crore in the same period a year ago. Apart from this, the company’s total income also increased to Rs 39,362.95 crore in the first quarter of the current financial year as compared to Rs 26,496.18 crore in the same period of the previous financial year.

Adani Wilmar CEO and Managing Director Angshu Malik said that the company’s performance was as per expectations. Our focus is on food business. The company said that the company’s revenue from the edible oil segment stood at Rs 12 thousand 118 crore. It registered an increase of 40 percent. Volume increased by 9 percent. The revenue of the Food and FMCG segment stood at Rs 704 crore. It registered a jump of 46 percent. The revenue of the Industry Essentials segment stood at 1557 crores. There was a jump of 41 percent in this.

Share closed at 376

After the results, the share of Adani Wilmar closed at Rs 376, down 1.23 per cent. During the day’s trading, it had registered a rise of 4.5 percent and reached the level of Rs 399. After this fall, its market cap was reduced to Rs 48900 crore.

Important information for investors

Talking about the outlook of this stock, market experts say that this stock can make huge profits in the long term. Marwari Share & Finance says that the company’s distribution network is good. The client base is strong. Adani Wilmar manufactures edible oil brand Fortune which is the market leader in its segment. So it is a long race horse. Swastik Investment believes that the company’s valuation, fundamentals are very strong. Long term investors buy on downside.

What is the target of the brokerage?

Talking about the target of the brokers, Venture Securities has set a target of Rs 468. GCL Securities has set a target of Rs 377 and Share India has set a target of Rs 350-380. At present, this stock has left the target of all brokerages behind. In such a situation, there is every possibility of correction in it. A correction of 1.4 per cent (Rs 5) also came in the last trade on Friday. In such a situation, investors need to be careful.

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