This company of Adani Group released its results, decline in both profits and earnings

Adani Group company Adani Wilmar has announced the results for the October-December quarter. The company informed the exchange that there has been a decline in the profits and earnings of Adani Wilmar. The company informed the exchange that the consolidated profit has increased from Rs 246 crore to Rs 201 crore.

Talking about earnings, there has also been a decline. The consolidated earnings of the company have declined from Rs 15438 to Rs 12,828 crore. Along with earnings and profits, the EBITDA of the company has also declined. On an annual basis, the company’s EBITDA has declined from Rs 605 crore to Rs 503.8 crore. Talking about the EBITDA margin of the company, there has been no change in it. The company’s margin also remains at 4% without any change.

Company stock

Till the time of writing the news, the company’s shares were trading at Rs 358.60 at 2:16 pm. Today there has been a slight rise in the stock. Today the company’s stock has seen a rise of 0.36 percent to Rs 1.30. In the last three months, the company’s shares have given a return of 9.74 percent to the investors.

Preparation to sell stake in Wilmar

In earlier news, Adani Group has decided to put on hold its plan to sell its stake in Adani Wilmar for some time. It is believed that Adani Group is not satisfied with the price they are looking for.

According to the news of The Hindu Business Line, the group is in talks with the world’s biggest consumer goods companies to sell about 44 percent of its stake. The talks regarding this deal are being delayed mainly due to expectations on valuation. According to sources, the promoters are targeting a transaction value of around $4 billion, but buyers are offering much less than this amount.