Adani Ports and Special Economic Zone rose 9.05% to Rs 311.50 at 14:57 IST on BSE after consolidated net profit rose 60.97% to Rs 1090.81 crore on 23.56% increase in total income to Rs 2416.77 crore in Q2 September 2016 over Q2 September 2015.
The result was announced during trading hours today, 25 October 2016.Meanwhile, the BSE Sensex was down 87.87 points, or 0.31%, to 28,091.21.
On BSE, so far 15.87 lakh shares were traded in the counter, compared with average daily volume of 4.05 lakh shares in the past one quarter. The stock hit a high of Rs 312.70 and a low of Rs 280.90 so far during the day. The stock hit a 52-week high of Rs 317.50 on 26 October 2015. The stock hit a 52-week low of Rs 169.65 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 October 2016, rising 3.78% compared with 1.71% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.32% as against Sensex's 0.72% 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 (APSEZ)'s consolidated operating income rose 21% to Rs 2183 crore in Q2 September 2016 over Q2 September 2015.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 23% to Rs 1451 crore in Q2 September 2016 over Q2 September 2015.
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In Q2 September 2016, APSEZ handled cargo of 43 million metric tonnes (MMT), a growth of 17% over Q2 September 2015.
Karan Adani, Chief Executive Officer of APSEZ said that healthy growth in cargo volumes, operational efficiencies and our efforts to change the mix of bulk cargo beyond coal has enabled us to report all-round growth in our financial numbers. With Make in India scheme of Government of India likely to take off in the near future, the company's special economic zone (SEZ) monetization is expected to gain momentum. Implementation of GST will help the company's logistic arm to expand further. With the company's port to Hinterland connectivity further improving, the company would be truly a fully integrated player providing end to end service to the customers. This will result in higher volume and financial growth.
In a separate announcement during trading hours today, 25 October 2016, the company said its board of directors has given their in-principle approval for issue of non-convertible debentures for an aggregate amount not exceeding Rs 2000 crore in one or more tranches on private placement basis.
APSEZ, a part of the Adani Group, is India's largest private port operator.
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