(Reuters) – India’s Adani Wilmar said on Friday it expects second-quarter standalone revenue to grow 16%, on account of higher sales volumes at its mainstay edible oil segment and fast-growing foods business.
Edible oil prices showed signs of recovery in the quarter ended Sept. 30 compared to previous quarters, although they remained below year-ago levels, said analysts.
Adani Wilmar, which sells the “Fortune” brand of cooking oils, said sales volume for edible oils, its biggest business, rose 15% in the September quarter.
Volumes at the food business, the company’s second-biggest, grew 31% in the quarter, it said.
Rival Marico, which makes the “Parachute” coconut oils, said on Wednesday it expects Q2 consolidated revenue to grow in the high single-digit percentage range.
(Reporting by Ashna Teresa Britto and Nandan Mandayam; Editing by Varun H K)
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