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Adani Ports & SEZ fiscal Q2 profit climbs 53.3% YOY

Adani Ports and Special Economic Zone Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 1.93 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.23 rupees per share.

EPS rose 53.4% year over year from 1.26 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.00 billion rupees, an increase of 53.3% from 2.61 billion rupees in the year-earlier period.

The normalized profit margin increased to 27.7% from 25.0% in the year-earlier period.

Total revenue climbed 38.1% on an annual basis to 14.45 billion rupees from 10.46 billion rupees, and total operating expenses rose 20.9% year over year to 6.03 billion rupees from 4.99 billion rupees.

Reported net income grew 67.8% from the prior-year period to 5.74 billion rupees, or 2.77 rupees per share, from 3.42 billion rupees, or 1.65 rupees per share.

As of Nov. 10, US$1 was equivalent to 61.55 Indian rupees.