Adani Ent shares weaken over 6% as Q2 net plunges

Shares of Adani Enterprises (AEL) today plummeted by over 6 per cent after the company reported a steep 79 per cent drop in consolidated net profit for the quarter ended September 2016.
The stock dropped 6.37 per cent to Rs 66.80 on BSE.
On NSE, shares of the company declined by 5.95 per cent to Rs 67.15.
Adani Enterprises (AEL) yesterday reported a sharp 79 per cent plunge in consolidated net profit at Rs 63 crore for the quarter to September 2016.
The firm led by billionaire Gautam Adani had clocked a net profit of Rs 299 crore in the year-ago period, it had said in a BSE filing.

Total consolidated income of the company fell 16 per cent to Rs 7,594 crore in the July-September quarter this fiscal, from Rs 9,075 crore during the same quarter in 2015-16.
The company's total expenses were lower at Rs 7,287 crore during the period under review, from the earlier Rs 8,898 crore.