Adani Ports and Special Economic Zone lost 0.93% to Rs 143.40 at 14:10 IST on BSE after consolidated net profit rose 25% to Rs 451 crore on 16% growth in total income to Rs 1244 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced during trading hours today, 27 January 2014.
Meanwhile, the S&P BSE Sensex was down 348.30 points or 1.65% at 20,785.26.
On BSE, so far 1.40 lakh shares were traded in the counter as against average daily volume of 2.99 lakh shares in the past one quarter.
The stock was volatile. The stock lost as much as 2.48% at the day's low of Rs 141.15 so far during the day. The stock rose as much as 1.17% at the day's high of Rs 146.45 so far during the day. The stock had hit a 52-week low of Rs 118 on 5 August 2013. 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 24 January 2014, sliding 9.11% compared with the Sensex's 0.48% rise. The scrip had also underperformed the market in past one quarter, declining 6.37% as against Sensex's 1.97% rise.
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 (APSEZ)'s consolidated EBITDA (earnings before interest, taxation, depreciation and amortization) rose 8% to Rs 812 crore in Q3 December 2013 over Q3 December 2012. The consolidated cargo handled by the company rose 21% at 29.14 MMT in Q3 December 2013 over Q3 December 2012.
Commenting on the results, Mr B Ravi, CFO, APSEZ said, "We had robust cargo volumes at our all operational ports. Our focus on improving processes and innovation will enable us to have long term sustainable growth. Diversified cargo growth with completion of other ports will provide additional thrust to the growth in ensuing period resulting better financial performance".
APSEZ said that the project execution of ports at Goa is nearing completion and Tuna Tekra at Kandla is as per the schedule.
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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