(Reuters) -India’s AWL Agri Business, previously known as Adani Wilmar, reported a nearly 22% rise in fourth-quarter profit on Monday, benefiting from higher demand in its core edible oils segment.
The consumer goods company, which makes the Fortune brand of cooking oil, reported a consolidated net profit of 1.9 billion Indian rupees ($22.36 million) for the quarter ended March 31, compared with 1.56 billion rupees a year ago.
Revenue from its core edible oils segment – which accounted for more than 81% of total revenue – jumped 45% during the quarter, driven by increased demand for sunflower and mustard oils.
Cooking oil has largely resisted the broader slowdown in branded consumer goods due to its essential nature despite brands increasing prices in recent months to offset rising ingredient costs, as per analysts.
AWL’s food unit, which sells staples such as rice and wheat, reported revenue growth of 9%, driven by strong demand and distribution through e-commerce and trade channels.
AWL’s chief executive officer, Angshu Mallick, told Reuters in February that the company expects sales to grow 10% in fiscal 2026, led by demand from 10-minute delivery apps and tax cuts.
Overall revenue rose about 38% in the fourth quarter.
The company changed its name from Adani Wilmar in March after Adani Group exited the joint venture by selling its stake to Singapore’s Wilmar International.
Rival Marico, which sells the Saffola brand of cooking oil, will report results on Friday. The company is eyeing revenue growth in the low single digit for the three months ended March following three straight quarters of profit fall.
($1 = 84.9880 Indian rupees)
(Reporting by Ananta Agarwal and Shivani Tanna in Bengaluru; Editing by Maju Samuel)
