(Reuters) -India’s AWL Agri Business, formerly known as Adani Wilmar, reported a 23% rise in its first-quarter standalone revenue on Thursday, as higher edible oil prices offset muted consumer demand during what the company called a “challenging quarter”.
Higher prices in the edible oils segment, which account for nearly 80% of AWL Agri’s overall revenue, helped counterbalance a 2% decline in sales volume for the business.
The consumer goods firm’s standalone revenue excludes its discontinued G2G business, which involves rice sales to government-appointed export agencies.
Including that business, revenue grew by 21%.
However, AWL Agri said that overall volumes fell 4% during the quarter ended June 30 due to weak consumer demand, the wind-down of its G2G business and the consolidation of its rice operations.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Shailesh Kuber and Mohammed Safi Shamsi)
