Adani Ports and Special Economic Zone Ltd. reported fourth-quarter stand-alone net profit of Rs.338.88 crore or Re.1.69 per share, while it reported Rs.334.73 crore or Re.1.67 per share in the year-ago quarter.
Its quarterly net income from operations and other operating income stood at Rs.641.88 crore, while it was Rs.604.94 crore in the year-ago quarter
The company said the net profit and income from operations for the previous quarter/year included on- time income of Rs.80.37 crore and Rs.77.27 crore respectively on account of change in accounting policy relating to land lease/sub-lease transactions. Accordingly, results for the quarter and for the year ended were not comparable to previous year due to this change in accounting policy.
For the quarter, income from 'Ports and SEZ activities' segment was Rs.3,101.28 crore, while that from 'Others' stood at Rs.204.42 crore.
For the fiscal year, its stand-alone net profit was Rs.1,177.26 crore, while last year it was Rs.986.16 crore Total income, including other operating income, totaled Rs.2,481.90 crore, whereas the company posted Rs.1,885.07 crore a year-ago.
Consolidated Results
On a consolidated basis, net profit for the fiscal year stood at Rs.1,102.70 crore, while the company posted Rs.918.15 crore last year. Total income, including other operating income, totaled Rs.3,270.80 crore, while last year it stood at Rs.2,000.11 crore in 2011.
The consolidated results for the year are not comparable with those of the previous year as the current year's figure included results of the operations of Mundra Port Pty. Ltd. and Adani Abbot Point Terminal Holding Pty Ltd., Australian subsidiary Companies effective June 01, 2011
The company's board recommended a final dividend of Re.0.70 per equity share of Rs.2 each for the fiscal year 2012.
At the BSE, Adani Ports and Special Economic Zone shares are currently trading at Rs.118.35, down 2.19 percent from the previous close.
Source: RTT News