Adani Ports sinks post Q4
By
Research Desk
about 9 years ago
Adani Ports sank intra day almost 13% lower to Rs.205.75 and it continues to remain around the same levels.
The performance of the company for Q4FY16 was actually good as its consolidated net profit was up 38% (YoY) at Rs.914 crore on a 16% increase in revenue at Rs.1947 crore. EBITDA margin was 370 bps down at 6.12%.
The markets were disappointed on two counts – firstly, though it reported a higher net profit, it was much below market expectations. Secondly, there was disappointment over the falling margin and a burgeoning debt – its loans and advances jumped to Rs.2922 crore v/s Rs.68 crore, made mainly to trade partners and long term borrowings rose 15% to Rs.18762 crore.