Adani Ports Q2 profit at Rs 276 cr; total income up 21%

Private port developer Adani Ports and SEZ reported a marginal decline in net profit for the quarter ended September to Rs 276 crore from the corresponding quarter last year. It had posted net profit of Rs 287 crore in the July-September quarter last year.

However, total income rose 21 per cent to Rs 1,093 crore for the quarter, from Rs 903 crore on year-on-year (YoY) basis. The company’s earnings before interest, depreciation, taxation and amortization (EBIDTA) too rose 40 per cent to Rs 734 crore from Rs 524 crore in the same quarter previous year.

Adani Ports also reported that its cargo volumes stood at 25.34 MMT, up 15 per cent on yearly basis.

For the first half of the financial year 2012-13, the port company’s net profit rose marginally by two per cent to Rs 5552 crore as compared to Rs.542 crore in the corresponding period previous year. Net income, meanwhile, increased 45 per cent to Rs 2,146 crore from Rs 1484 crore over the same period last year. Cargo volumes jumped 24 per cent for H1 2012-13 on YoY basis.

Shares of the company, part of the Adani Group, are down 0.48 per cent in trade on the Bombay Stock Exchange today at 2:02 p.m. The BSE Sensex index too trader lower by 0.77 per cent. 

Adani Port shares have largely under-performed the broader Sensex index on the BSE. They have fallen 7.83 per cent over the last six months. In contrast, BSE Sensex index is up 9.35 per cent.