Adani Ports slips 6% post Q1 results

The stock slipped 6% to Rs 375 on the BSE after the company reported its consolidated net profit at Rs 6.97 billion in June quarter, due to mark to market loss of Rs 3.83 billion during the quarter.

Shares of Adani Ports and Special Economic Zone have slipped by 6% to Rs 375 per share on the BSE in intra-day trade after the company reported its consolidated net profit at Rs 6.97 billion in June quarter (Q1FY19), due to provision of mark to market loss of Rs 3.83 billion during the quarter. It had a profit of Rs 7.6 billion in the same quarter during the last fiscal.

The consolidated revenue during the quarter under stood at Rs 24.11 billion against Rs 27.45 billion in the corresponding period of previous fiscal. There was no SEZ port led