Stocks

Adani Ports shares tank over 6% on Q1 results

BL Internet Desk | Updated on August 07, 2018 Published on August 07, 2018

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Shares of Adani Ports and Special Economic Zone Ltd fell as much 6.24 per cent to Rs 372.65, its biggest intraday percentage drop since March 7. The stock was among the top drags on the NSE index.

The company has posted a standalone net profit of Rs 359 crore for the first quarter ended June 2018, down 28 per cent, from Rs 500 crore reported in the corresponding quarter a year ago.  Its standalone revenue from operations stood at Rs 1,081 crore against Rs 1,645 crore.

On a consolidated basis, the company's net profit stood at Rs 697 crore during the quarter under review, down by 9 per cent, from Rs 767 crore in the same period last year. Consolidated revenue from operations stood at Rs 2,411 crore (Rs 2,745 crore).

More than 3.2 million shares changed hands, 1.3 times the 30-day moving average.

Published on August 07, 2018
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