Adani Ports and Special Economic Zone Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.71 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 3.18 rupees per share.

EPS climbed 26.0% year over year from 2.15 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.61 billion rupees, an increase of 25.7% from 4.47 billion rupees in the prior-year period.

The normalized profit margin increased to 30.7% from 25.9% in the year-earlier period.

Total revenue climbed 6.0% on an annual basis to 18.27 billion rupees from 17.23 billion rupees, and total operating expenses grew 8.7% on an annual basis to 8.90 billion rupees from 8.19 billion rupees.

Reported net income grew 30.4% from the prior-year period to 8.36 billion rupees, or 4.04 rupees per share, from 6.41 billion rupees, or 3.09 rupees per share.

As of Aug. 9, US$1 was equivalent to 66.75 Indian rupees.