Earnings maths buoy Adani Ports & SEZ over 9%

Shares of Adani Ports and Special Economic Zone (APSEZ) turned higher by over 9 per cent today, adding Rs 5,962.59 crore to its market capitalisation, after the company reported a 25 per cent jump in consolidated net for the fourth quarter ended March.
The stock rose sharply 9.07 per cent to end at Rs 346.40 on BSE. During the day, it soared 9.88 per cent to Rs 349.
On NSE, the scrip gained 9.33 per cent to settle at Rs 347.20.
Led by the gains, the company's market value rose to Rs 71,706.59 crore.
APSEZ's consolidated net for the fourth quarter went up to Rs 661 crore on higher income and enhanced cargo volumes.

APSEZ, India's largest port developer and part of Adani Group, had reported a net profit of Rs 530 crore in the corresponding quarter of 2013-14.
"Consolidated total income increased 42 per cent to Rs 1,832 crore in Q4 of FY15 from Rs 1,291 crore in the same quarter last year and consolidated EBIDTA rose 49 per cent to Rs 1,247 crore against Rs 836 crore last year," the company said in a statement.
The company said its consolidated PAT for the full fiscal grew 33 per cent to Rs 2,314 crore compared with Rs 1,740 crore last year.