The share price of multinational conglomerate Adani Ports and Special Economic Zones fell about 4% on Wednesday, May 5, a day after the company announced its January-March quarterly results for fiscal year 2020-21. Adani ports opened at Rs 775 on Wednesday, with an intraday high of Rs 779 and an intraday low of Rs 733 on BSE, in the trading session so far. According to a regulatory filing from the port-energy conglomerate to the exchanges, Adani Ports reported a net profit of Rs 1,287.81 crore in the March quarter for fiscal year 2020-2021. (Read also: Adani Port Profits Quadruple to ₹ 1,287.81 in March Quarter)
According to fourth quarter results, Adani Ports and Special Economic Zones saw 285% growth or a quadruple jump in net profit in the March quarter, compared to 334.39 rupees in the corresponding quarter of the year. last. Currently, Adani Ports is the largest integrated ports and logistics company in the country and is involved in the management of the entire supply chain – from vessel management to piloting, berthing, anchoring, towing, handling. goods, storage, internal transport, evacuation by rail. or road etc.
The Port of Adani reported a 24 percent increase in operating revenue to ₹ 3,607.90 crore in the January-March quarter, from Rs 2,921.19 crore in the corresponding quarter last year. The country’s largest private multi-port operator recently acquired stakes in the ports of Ennore, Krishnapatnam and Gangavaram.
On the NSE, Adani Ports opened at Rs 772, hitting an intraday high of Rs 774.80, and an intra-low of Rs 732.70, in the session so far. It was the last trade 3.71 percent below Rs 740.20 on the NSE.
Shares of Adani Ports were last down 3.76 percent to Rs 739.90 on BSE.