Adani Wilmar s total income also declined to Rs 12,994.18 crore in Q1 FY24 as against Rs 14,776.39 crore in Q1 FY23, as per the BSE filing. However, its total expenses reduced to Rs 13,061.86 crore in Q1 FY24 as against the total expenses of Rs 14,516.13 crore in Q1 FY23.
India Business News: Due to a high-cost inventory triggered by a decline in edible oil prices, FMCG major, Adani Wilmar Limited posted a net loss of Rs 79 crore during th
BENGALURU - India s Adani Wilmar Ltd swung to a loss in the first quarter on Wednesday as a steep decline in edible oil prices dragged down its sales value, offsetting high demand.
Adani Wilmar, the largest packaged oil maker in India, has suffered in Q1 due to a decrease in edible oil prices. CEO and managing director Mr. Angshu Mallick states that Adani Wilmar was unable to contra-hedge local oils in India, which has affected the company s hedging mechanism. Volumes are up 25%, but margins have been impacted due to a dis-alignment of hedges. The company has faced a one-time phenomenon.