Adani ports shares fall nearly 5% after a weak earnings report
Shares of Adani Ports and Special Economic Zone Limited (APSEZ) fell nearly 5 per cent on Wednesday after the company reported a 21.78 per cent decline in consolidated net profit to Rs 1,033 crore for the March quarter from a year ago.
According to a BSE filing late Tuesday, the country's largest integrated logistics player had clocked a consolidated net profit of Rs 1,321 crore in the corresponding period of the previous fiscal.
The company's consolidated total income increased to Rs 4,417.87 crore for the fourth quarter of the last fiscal as against Rs 4,072.42 crore in the same period a year ago.
APSEZ's shares were last trading 4.92 per cent lower at Rs 714.80 per unit.
