APSEZ advances after reporting healthy Q4 result

Adani Ports and Special Economic Zone rose 2.2% to Rs 339.35 at 14:35 IST on BSE after consolidated net profit rose 27% to Rs 1179 crore on 18% rise in revenue from operations to Rs 2231 crore in Q4 March 2017 over Q4 March 2016.

The result was announced during market hours today, 24 May 2017.

The S&P BSE Sensex dropped 54.82 points or 0.18% to 30,310.43.

Huge volumes were witnessed on the counter. On the BSE, 10.43 lakh shares were traded in the counter so far, compared with average daily volumes of 3.71 lakh shares in the past one quarter. The stock had hit a high of Rs 343 and a low of Rs 328 so far during the day.

The stock had hit a 52-week high of Rs 361.60 on 11 May 2017. The stock had hit a 52-week low of Rs 177 on 24 May 2016. The stock had underperformed the market over the past one month till 23 May 2017, rising 1.87% compared with Sensex's 3.41% gains. The scrip had, however, outperformed the market in past one quarter, advancing 11.63% as against Sensex's 5.1% rise.

The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

Adani Ports and Special Economic Zone's consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 32% to Rs 1638 crore in Q4 March 2017 over Q4 March 2016.

The company's board of directors recommended dividend of Rs 1.30 per share for the year ended 31 March 2017 (FY 2017).

Meanwhile, Adani Ports has clarified with regards to news report suggesting Comptroller and Auditor General (CAG) ruling of Vizhinjam Port agreement is not in favour of state, that the company has not received any report from CAG neither any letter from the state government on the same.

Adani Ports and Special Economic Zone is a port developer and the logistics arm of Adani Group.

Powered by Capital Market - Live News