The quarterly results of Adani Wilmar, a company of Adani Group, which was listed in the stock market in the month of February, have come. During the March quarter, the company suffered a significant loss in net profit. The effect of this was that on Monday, there was a tremendous sell-off in the stock of Adani Wilmar in the stock market.
March quarter results: Adani Wilmar’s net profit fell 26 per cent to Rs 234 crore during the January-March period. Revenue from operations, however, grew 40 per cent to Rs 14,960 crore during the period. Explain that due to the war and inflation between Ukraine and Russia, the supply and demand of edible oil has been affected. Due to this there has been a decline in the net profit of Adani Wilmar. Adani Wilmar is the leading company in the edible oil market. Its famous brand is Fortune.
Big fall in the stock: On Monday, the first trading day of the week, the share price of Adani Wilmar fell by 3.41 per cent to Rs 753.65. During trading, the price had gone up to the level of Rs 749. At present, the market capital of the company is Rs 97,950.28 crore.
Let us tell you that since its listing in February, Adani Wilmar has given strong returns to the investors. Recently the company was ranked among the top 50 Indian companies in terms of market capitalization. The company achieved this success because of the market capital crossing the Rs 1 lakh crore mark. Adani Wilmar’s stock has risen over 250 per cent in just two months.