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Adani Ports & SEZ fiscal Q2 profit climbs 59.0% YOY

Adani Ports and Special Economic Zone Ltd said its normalized net income for the fiscal second quarter ended Sept. 30, 2016, was 3.53 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.54 rupees per share.

EPS increased 59.0% year over year from 2.22 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.31 billion rupees, an increase of 59.0% from 4.60 billion rupees in the prior-year period.

The normalized profit margin rose to 33.5% from 25.5% in the year-earlier period.

Total revenue increased 21.3% on an annual basis to 21.83 billion rupees from 18.00 billion rupees, and total operating expenses grew 17.0% from the prior-year period to 10.04 billion rupees from 8.58 billion rupees.

Reported net income increased 60.3% year over year to 10.91 billion rupees, or 5.26 rupees per share, from 6.81 billion rupees, or 3.28 rupees per share.

As of Jan. 11, US$1 was equivalent to 68.44 Indian rupees.