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Adani Ports share falls over 4% despite robust Q4 earnings

Adani Ports share falls over 4% despite robust Q4 earnings

Adani Ports share touched an intraday low of Rs 733, falling 4.66% on BSE

Adani Ports share has risen 181.72% in one year and gained 53.31% since the beginning of this year. Adani Ports share has risen 181.72% in one year and gained 53.31% since the beginning of this year.

Share of Adani Ports fell over 4% today despite the Adani Group firm's net profit almost quadrupled in Q4. The stock has fallen after 2 days of consecutive gain. Adani Ports share touched an intraday low of Rs 733, falling 4.66% on BSE.

The stock trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. Adani Ports share has risen 181.72% in one year and gained 53.31% since the beginning of this year.

Market cap of the firm fell to Rs 1.51 lakh crore on BSE. Net profit in the last quarter to Rs 1,321 crore against Rs 340 crore in the year-ago quarter on the back of 27 per cent growth in cargo volume to 73 MMT.

In FY21, Adani Ports and Special Economic Zone reported a 33 per cent year-on-year rise in consolidated net profit at Rs 5,049 crore. Led by a 11 per cent growth in cargo to 247 million metric tonnes (MMT) during FY21, operating revenue rose 6 per cent to Rs 12,550 crore. Overall cargo volume handled also included volume of Krishnapatnam Port which was acquired by APSEZ in October last year.

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"FY21 has been a transformational year for APSEZ. Some of the key decisions we took this year have set the foundation for the coming decade. Our customer centric approach has yielded good result for us as our market share increased by 4 per cent on a pan-India basis," APSEZ CEO and whole time director Karan Adani said.

Adani Ports share rises 3% ahead of Q4 earnings