Adani Ports shares tank 6.5 pc after Q1 earnings

Shares of Adani Ports and Special Economic Zone tumbled 6.5 per cent today after the company reported 9 per cent decline in consolidated profit for the June quarter.

The stock tanked 6.49 per cent to end at Rs 371.95 on the BSE. Intra-day, it plummeted 7.16 per cent to Rs 369.25.

On the NSE, shares of the company slumped 6 per cent to close at Rs 373.20.

The stock was the worst hit among the blue chips on both the key indices during the day.

In terms of equity volume, 8.48 lakh shares of the company were traded on the BSE and over 96 lakh shares changed hands on the NSE during the day.

APSEZ yesterday reported 9 per cent decline in consolidated profit to Rs 697.40 crore for the first quarter of 2018-19 financial year.

It had posted a net profit of Rs 767.52 crore in April-June, 2017-18, APSEZ said in a BSE filing.

The consolidated income also fell to Rs 2,703.86 crore from Rs 2,959.63 crore in the year-ago period.