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Adani Ports & SEZ fiscal Q2 profit climbs 17.3% YOY

Adani Ports and Special Economic Zone Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 4.14 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.60 rupees per share.

EPS climbed 17.5% year over year from 3.53 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.58 billion rupees, an increase of 17.3% from 7.31 billion rupees in the prior-year period.

The normalized profit margin declined to 31.7% from 33.5% in the year-earlier period.

Total revenue grew 24.0% on an annual basis to 27.06 billion rupees from 21.83 billion rupees, and total operating expenses grew 13.8% on an annual basis to 11.43 billion rupees from 10.04 billion rupees.

Reported net income declined 9.1% on an annual basis to 9.92 billion rupees, or 4.79 rupees per share, from 10.91 billion rupees, or 5.26 rupees per share.

As of Nov. 13, US$1 was equivalent to 65.46 Indian rupees.