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.