AWL Agri Business Q2 Profit Down 21%

New Delhi, Nov 3 (PTI) Edible oil major AWL Agri Business Ltd on Monday reported a 21 per cent decline in consolidated net profit to Rs 244.85 crore in the September quarter.

Its net profit stood at Rs 311.02 crore in the year-ago period.

Total income rose to Rs 17,525.61 crore during the July-September period of this fiscal year from Rs 14,552.04 crore in the corresponding period of the preceding year, according to a regulatory filing.

AWL Agri Business Ltd, which sells edible oils and other food items under Fortune as well as some other brands, said, "PAT (profit after tax) at Rs 245 crore was down 21 per cent YoY on account of a strong base quarter".

During the quarter, the company recorded volume growth of 2 per cent year-on-year (YoY) to 1.68 million tonnes across three businesses -- edible oils, industry essentials. and food -- FMCG.

During the second quarter of this fiscal, revenue from edible oils rose 26 per cent year-on-year, and industry essentials posted a 19 per cent increase.

"Food & FMCG revenue declined by 2 per cent as it was impacted by lower non-branded rice exports, one off G2G (government-to-government) rice business in base year and consolidation of non-basmati rice business," it added.

The revenue of edible oils grew 26 per cent to Rs 13,828 crore during the July-September period of this fiscal year from Rs 10,966 crore in the year-ago period.