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Adani Ports & SEZ profit misses consensus by 25.8% in fiscal Q1

Adani Ports and Special Economic Zone Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.90 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.56 rupees per share.

EPS climbed 38.4% year over year from 1.37 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.93 billion rupees, a gain of 42.3% from 2.76 billion rupees in the year-earlier period.

The normalized profit margin climbed to 31.6% from 19.1% in the year-earlier period.

Total revenue decreased 13.9% on an annual basis to 12.46 billion rupees from 14.47 billion rupees, and total operating expenses decreased 12.9% year over year to 5.90 billion rupees from 6.77 billion rupees.

Reported net income increased 36.0% year over year to 5.68 billion rupees, or 2.74 rupees per share, from 4.17 billion rupees, or 2.07 rupees per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.