The company reported a 66 per cent increase in its consolidated net profit at Rs 211.41 crore for the quarter ended December 2021 on the back of higher sales. Its net profit stood at Rs 127.39 crore in the year-ago period.
Following the update, shares jumped 7 per cent to hit an intraday high of Rs 404, before giving up gains to trade at Rs 384.80 at 10.45 am. The scrip settled at Rs 376.40 on Monday.
BSE barometer and benchmark Sensex was trading 166.51 points or 0.30 per cent higher at 56,572.35 at the time of writing this report.
The total income of the latest D-Street debutant rose to Rs 14,405.82 crore in the third quarter of 2021-22, from Rs 10,238.23 crore earlier.
After a muted listing last week, shares of Adani Wilmar staged a solid rebound, delivering a return of 90 per cent to shareholders as the stock rose to Rs 419.90 from its listing price of Rs 221. The market capitalisation of the company once again reclaimed Rs 50,000 crore on Tuesday.
The company’s net profit rose to Rs 569.45 crore during the April-December period of the ongoing fiscal, as against Rs 413.51 crore in the year-ago period.
This is the first quarterly result announced by Adani Wilmar post listing.
Adani Wilmar is a 50:50 joint venture between Gautam Adani’s Adani Group and Singapore-based Wilmar group. It sells cooking oils and some other products under the Fortune brand.
Its Rs 3,600 crore IPO was sold between January 27 and 31 at a price band of Rs 218-230 apiece, which was overall subscribed more than 17 times.
