Adani Wilmar Stock Surges 7% on Strong Q2 Earnings

New Delhi, Oct 24 (PTI) Shares of edible oil firm Adani Wilmar Ltd on Thursday jumped nearly 7 per cent after the company reported a consolidated net profit of Rs 311.02 crore for the second quarter of this fiscal year on higher income.

The company's stock surged 6.71 per cent to close at Rs 340.30 apiece on the BSE. During the day, it zoomed 8 per cent to Rs 344.60.

On the NSE, it soared 6 per cent to settle at Rs 337.50 per piece.

In terms of volume, 7.57 lakh shares of the firm were traded on the BSE and 79.70 lakh shares exchanged hands on the NSE during the day.

The company had posted a net loss of Rs 130.73 crore in the year-ago period.

Its total income rose to Rs 14,565.30 crore during the July-September period of this fiscal from Rs 12,331.20 crore in the year-ago period, according to a regulatory filing on Thursday.

Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar.

The firm sells edible oils and other food items under various brands, including Fortune.