Adani Ports and Special Economic Zone jumped 7.7% to Rs 135.05 at 14:04 IST on BSE after consolidated net profit surged 51.12% to Rs 417.50 crore on 73.35% growth in total income to Rs 1567.97 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced during trading hours today, 1 August 2013.
Meanwhile, the S&P BSE Sensex was down 18.35 points or 0.09% at 19,327.35.
On BSE, 3.71 lakh shares were traded in the counter as against average daily volume of 6.95 lakh shares in the past one quarter.
The stock hit a high of Rs 137.80 and a low of Rs 125.05 so far during the day. The stock had hit a 52-week low of Rs 105.15 on 24 August 2012. The stock had hit a 52-week high of Rs 175 on 20 May 2013.
The stock had underperformed the market over the past one month till 31 July 2013, sliding 16.26% compared with the Sensex's 0.26% fall. The scrip had also underperformed the market in past one quarter, declining 13.55% as against Sensex's 0.81% fall
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The large-cap company has equity capital of Rs 414.01 crore. Face value per share is Rs 2.
Adani Ports and Special Economic Zone's (APSEZ) consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) surged 42% to Rs 943 crore in Q1 June 2013 over Q1 June 2012.
The consolidated cargo handled by APSEZ rose 39% to 26.67 MMT in Q1 June 2013 over Q1 June 2012.
The cargo handled by Dahej port rose 24% to 2.22 MMT year on year (YoY) during the quarter. The cargo handled by Hazira port stood at 0.87 MMT in Q1 June 2013, beginning its journey to be a large diversified port, adding to the overall Adani Ports' synergy. The progress at all other ports in Goa, Vizag, Tuna Tekra are on schedule, APSEZ said in a statement.
During the quarter, the company raised Rs 1000 crore via Institutional Placement Programme.
Commenting on the company's Q1 performance, Mr. B Ravi, CEO, APSEZ said, "t gives us immense pleasure to state that Adani Ports continues to outperform in cargo volume and has established its leadership position in the sector. Our growth will further get impetus from the newly commercialized port at Hazira and strengthen based for long term sustainable growth and a step towards pan India presence".
APSEZ is engaged in business of developing, operating and maintaining the port and port related infrastructure facilities including multi-product special economic zone.
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