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Adani Ports share price falls 5% post Q2 earnings

The company has also told exchanges that it is planning to exit its investment in Myanmar by June 2022

October 28, 2021 / 10:21 AM IST
 
 
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Adani Ports and Special Economic Zone share price fell 5 percent in the morning trade on October 28, a day after the company reported a 30.52 percent fall in its consolidated net profit at Rs 968.3 crore for the second quarter ended September 30.

Adani Ports and Special Economic Zone had posted a consolidated net profit of Rs 1,393.7 crore in the same period of the previous year.

Its total consolidated income increased to Rs 4,066.8 crore for the second quarter from Rs 3,423.2 crore in the year-ago period.

The company’s total expenses jumped to Rs 2,509.8 crore, up from Rs 1,622.8 crore a year ago.

The Company’s Risk Management Committee, after a review of the situation, has decided to work on a plan on exiting investment in Myanmar, including exploring any divestment opportunities (Expected to be concluded by March-June 2022), it said.

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At 9.42 am, Adani Ports and Special Economic Zone was quoting at Rs 716.45, down Rs 29.20, or 3.92 percent, on the BSE.



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Moneycontrol News
first published: Oct 28, 2021 10:21 am
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