Adani Ports to Report March Quarter Profits; Higher stock edges

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Shares of Adani Ports were last up 1.14 percent to Rs 769.95 on BSE.

The share price of Adani Ports and Special Economic Zones or APSEZ – which is part of the multinational conglomerate Adani Group, gained around 2% on Tuesday, May 4, before reporting its January-March quarterly results for the fiscal year 2020-21. On Tuesday May 4th, Adani Ports opened on BSE at Rs 780.50, witnessing an intraday high of Rs 781.85, and an intra-low of Rs 760, in the trading session until now. In the third quarter of fiscal year 2020-2021, Adani Ports reported net profit of 16% at Rs 1,577 crore on a consolidated basis, following 37% growth in freight volume.

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According to a regulatory filing by the ports-energy conglomerate with the ESB today, Adani Ports handled a cargo volume of 24.46 million tonnes of metro or MMT in April of this year. This has led the company to record 86 percent growth on an annual basis.

Meanwhile, in the container segment, Adani Ports handled a volume of 0.69 million twenty-foot equivalent units in April of this year, recording 98% growth on an annual basis.

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On the NSE, Adani Ports opened at Rs 779.85, recording an intraday high of Rs 782 and an intra low of Rs 760.05, in the session so far. It was last 0.94 percent higher at Rs 768.55 on the NSE.

Shares of Adani Ports were last up 1.14 percent to Rs 769.95 on BSE.

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