On consolidated basis, the company reported a 10.9% rise in profit before tax (PBT) to Rs 886.34 crore in Q2 September 2019 over Q2 September 2018.

The profit after tax (PAT) jumped 72.44% to Rs 1059.20 crore in quarter ending September 2019 as against the corresponding quarter of the previous year. PAT was supported by one time tax gain of Rs 319 crore in Q2 2019 over Q2 2018.

Revenue from operations rose 8.17% to Rs 2821.16 crore in Q2 2019 from Rs 2608.01 crore in Q2 2018.

Commenting on company's performance, Karan Adani, chief executive officer and whole time director of APSEZ said, APSEZ continues to gain market share due to strategy of having multi commodity ports across key locations. Q2 of FY20 was subdued but container volume continues to be strong. We expect H2FY20 to be better and confident of achieving 224-228 MMT of cargo throughput in FY20. With the recent cut in Repo rate, corporate tax reduction and resolve of the Government to accelerate economic growth, we expect economy to revive from Q1FY21. With our pan India presence and ability to handle all types of cargo at all our ports, we are best placed to capture the revival in Indian economy and are confident of achieving 10 to 12% CAGR cargo volume growth for the next few years. Automation and use of technology to handle cargo, sweating of enhanced capacity and better cargo mix will continue to drive margin expansion.

Shares of APSEZ closed 0.4% higher at Rs 387.55 on Monday. The stock has underperformed the benchmark index. APSEX rose 2.99% in three months as compared to a 7.23% rise in Nifty 50 index.

BSE, NSE are shut today, 12 November 2019, on account of Guru Nanak Jayanti

Adani Ports and Special Economic Zone (APSEZ) is a part of globally diversified Adani Group. APSEZ is the largest port developer and operator in India.

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Net profit of Adani Ports & Special Economic Zone rose 74.10% to Rs 1054.15 crore in the quarter ended September 2019 as against Rs 605.50 crore during the previous quarter ended September 2018. Sales rose 8.17% to Rs 2821.16 crore in the quarter ended September 2019 as against Rs 2608.01 crore during the previous quarter ended September 2018.

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Adani Ports & Special Economic Zone will hold a meeting of the Board of Directors of the Company on 11 November 2019.

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In June, the company announced its plan to buyback up to 3.92 crore fully paid up equity shares, or 1.89% stake, at Rs 500 each payable in cash for an amount aggregating up to Rs 1960 crore on a proportionate basis, through the tender offer route.

The private multi-port operator announced after trading hours on Friday, 23 August 2019, that it has received final comments on the 'Draft Letter of Offer' dated 13 June 2019 from the Securities and Exchange Board of India (Sebi). Accordingly, the company will dispatch the letter of offer along with the tender form to eligible shareholders (being the shareholders of the company as on the record date, 21 June 2019) on or before Thursday, 29 August 2019. The company will dispatch the letter of offer along with the tender form to eligible shareholders on or before 29 August 2019.

On a consolidated basis, Adani Ports's net profit rose 56.5% to Rs 1081.05 crore on a 15.9% rise in the net sales to Rs 2794.47 crore in Q1 June 2019 over Q1 June 2018.

Adani Ports and Special Economic Zone (APSEZ) is the largest commercial ports operator in India accounting for nearly one-fourth of the cargo movement in the country. The company has presence across 10 domestic ports in the six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

On the BSE, 69137 shares were traded in the counter so far compared with average daily volumes of 13 lakh shares in the past one quarter. The stock hit a high of Rs 368.95 and a low of Rs 349.75 so far during the day.

The stock hit a 52-week high of Rs 430 on 23 May 2019. The stock hit a 52-week low of Rs 293.95 on 30 Oct 2018.

The scrip has underperformed the market in past one year, down 8.96% as against Sensex's 4.27% fall.

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