Shares of Adani Wilmar plunged 5 percent in Wednesday's intra-day trade, after the FMCG major reported a consolidated profit after tax (PAT) of Rs 93.6 crore for the fourth quarter that ended on March 31, 2023. This was 60 percent down year-on-year (YoY) from Rs 234.29 crore profit it recorded in the same period a year ago.

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The Adani group company's consolidated revenue from operations came in at Rs 13,872.6 crore in the March quarter, down 7 percent on-year as against Rs 14,917.2 crores in the corresponding quarter of last year.

Ebitda or earnings before interest, taxes, depreciation, and amortization per ton also declined 30 percent to Rs 2,407 from Rs 3,425 in the year-ago quarter.

Meanwhile, Adani Wilmar has crossed 5 million metric tonne of sales during FY23. The food segment doubled its revenue in 2 years to close the year around Rs 4,000 crore. Both wheat flour and rice businesses crossed Rs 1,000 crore in revenue in FY23.

In edible oil, branded segment, with about 75 percent saliency, volume rose by 8 percent on-year in FY23. Overall segment volume increased by 3 percent YoY during the year.

"The company is now aiming to replicate the playbook of its edible oils business in the Foods business as well. During the year, the Company made good progress and has been gaining market share across food products," the company said in a filing.

"A large market opportunity in India is translating well into our growth numbers. We have almost doubled our Food & FMCG revenues in 2 years and recorded Rs 4,000+ crore revenue in the segment. In edible oil, branded sales, with 75% saliency, we have done significantly better with 8% YoY volume growth in FY ’23. In Industry essentials segment, we made good progress with our forward integration plans in specialty chemicals," Angshu Mallick, MD & CEO of Adani Wilmar, said.

Shares of Adani Wilmar closed 4.59 percent lower at Rs 396.40 apiece today. The stock was down 1.78 percent in the last one month, while on a year-to-date basis, it fell 34.37 percent.