Adani Ports docks new high
By
Research Desk
about 11 years ago
Adani Ports is currently the top gainer on the BSE, up over 8% at Rs.164.60 and this is after it had hit a new 52-week high at Rs.167. Volumes are up over 4 times at more than 8 lakh shares traded in the morning.
The stock is up on the back of very good numbers for Q4FY13. The company posted a 197% (YoY) hike in its consolidated net profit at Rs.710.31 crore and this was mainly due to the one-time gain of Rs 420 crore as it divested its holding in Australia's Abbot Point terminal to promoters. Net sales rose 42% at Rs.965 crore.
During the quarter, it handled a consolidated cargo of 25.67 million tonnes (MT), recording a growth of 49 per cent, the company said, adding that the Mundra Port handled 22.89 MT of cargo in the period.