Adani Ports shares down over 4 pc on Q2 results

Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) today fell by over 4 per cent after the company reported 7.88 per cent decline in consolidated net profit for the September quarter of the current fiscal.
The stock declined 4.11 per cent to close at Rs 414.05 on BSE. During the day, it tumbled 4.60 per cent to Rs 411.90.
On NSE, shares of the company dipped 4.32 per cent to end at Rs 413.35.
The stock was the top loser among the bluechips on both the key indices during the day.
Adani Ports and Special Economic Zone Ltd (APSEZ) today reported 7.88 per cent decline in consolidated net profit to Rs 992.37 crore for the second quarter ended September 30, due to higher tax incidence.

The logistics arm of Adani Group had clocked a net profit of Rs 1,077.28 crore in the corresponding period of the last fiscal, it said in a BSE filing.
Its total income rose to Rs 2,962.12 crore during the quarter under review as against Rs 2,410.03 crore in the corresponding period a year ago.