Adani Ports stock up over 2% post Q4 results

New Delhi, May 24 (PTI) Shares of Adani Ports and SpecialEconomic Zone Limited (APSEZ) rose by over 2 per cent todayafter it posted 27 per cent jump in consolidated net profitfor the fourth quarter en

New Delhi, May 24 (PTI) Shares of Adani Ports and Special

Economic Zone Limited (APSEZ) rose by over 2 per cent today

after it posted 27 per cent jump in consolidated net profit

for the fourth quarter ended March.

The stock gained 2.41 per cent to settle at Rs 340.05 on

BSE. During the day, it went up by 3.29 per cent to Rs 343.

On NSE, it rose by 2.41 per cent to close at Rs 339.65.

In terms of volume, 15.73 lakh shares of the company were

traded on BSE and over 83 lakh shares changed hands at NSE

during the day.

APSEZ posted 27 per cent jump in consolidated net profit

to Rs 1,179 crore for the fourth quarter of 2016-17 on higher

income.

It had clocked a net profit of Rs 928 crore in the

January-March period of the previous fiscal, 2015-16.

The company’s “profit after tax grew by 27 per cent from

Rs 928 crore in the fourth quarter of FY16 to Rs 1,179 crore

in the fourth quarter of FY17,” the company said in a

statement.

Its consolidated revenue from operations registered 18

per cent growth to Rs 2,231 crore in the quarter under review

as against Rs 1,899 crore in the year-ago period.

This is published unedited from the PTI feed.