Edible oil major Adani Wilmar reported a 10% growth in consolidated net profit at Rs 193.59 crore for Q1 on higher sales. Its net profit stood at Rs 175.70 crore in the year-ago period.
Speaking to ET NOW, Angshu Mallick, Managing Director and CEO of Adani Wilmar said that the company has taken price cuts and has passed the benefit to the consumers. He also added that the company will continue to pass on the benefits to the consumers if there is a further reduction in price.
The rural market has been under pressure and its contribution has come down to 31% from 35%, informed the MD & CEO.
“We have always looked at volume growth and believe that market share gains will aid growth,” said Mallick talking about the volume growth.
Meanwhile, Transmission company, Adani Transmission posted a 61% drop at Rs 168 crore in consolidated net profit for the quarter ended June 2022. Profit for the June quarter of the last fiscal was Rs 433 crore.
Anil Sardana MD & CEO of Adani Transmission & MD, Thermal Power is confident that the growth mantra will be something that the company will continue to pursue despite the base increase. The growth pipeline despite headwinds as strong as the company has Rs 15,000 Cr worth of orders to be executed in hand.
The company also maintains a CapEx guidance of Rs 5000-6000 every year. Sardana also mentioned that capital management will continue to be a key differentiator.
