Adani Ports Drops By 10 Per cent Despite Surge In Q4 Net Profit

Shares of Adani Ports fell by 10 per cent on Bombay Stock Exchange (BSE) even after the company reported a 38 per cent YoY jump in consolidated net profit for March quarter at Rs 914.06 crore.

Adani Ports Drops By 10 Per cent Despite Surge In Q4 Net Profit
The company had logged a net profit of Rs 660.73 crore for the corresponding quarter of last year. Total income from operations rose to Rs 1,947.20 crore during the quarter compared with Rs 1,681.19 crore reported for the year-ago quarter.

Reacting to the news, shares of company dropped 10 per cent to Rs 212.30 a piece on the BSE.

Shares of Adani Ports dipped 9.89 per cent to Rs 212.20 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 25,197.96, down by 31.74 points, or 0.13 per cent, at 11:30 hours.

Read more about: adani ports
Story first published: Wednesday, May 4, 2016, 12:40 [IST]
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