Adani Ports & Special Economic Zone Q2 Results Live: Profit Rises by 39.89% YOY

Adani Ports & Special Economic Zone Q2 Results Live : Adani Ports & Special Economic Zone has announced its Q2 results for the fiscal year 2024, revealing a significant year-on-year profit increase of 39.89%. The company declared these results on October 29, 2024, showcasing a topline growth of 6.33% compared to the same quarter last year.

While the company experienced a 1.59% revenue growth from the previous quarter, profit saw a decline of 21.45%. Additionally, the Selling, General & Administrative expenses rose by 7.84% quarter-on-quarter, and increased by 5.89% year-on-year, indicating rising operational costs that may affect future profitability.

The operating income reported a decrease of 12.19% compared to the previous quarter but showed an increase of 11.51% year-on-year. The Earnings Per Share (EPS) for Q2 stood at ₹11.52, reflecting a 12.98% increase from the same quarter last year, which is a positive sign for shareholders.

In terms of market performance, Adani Ports has delivered a return of 0.72% over the last week, 3.61% over the last six months, and an impressive 34.01% year-to-date return. Currently, the market capitalization of the company is ₹296,522.3 crore, with a 52-week high of ₹1,621.4 and a low of ₹767.2.

As of October 30, 2024, out of 18 analysts covering Adani Ports, only 1 analyst has given a Hold rating, while 9 analysts recommend a Buy and 8 analysts advocate for a Strong Buy. The consensus recommendation indicates a strong bullish sentiment towards the stock, highlighting confidence in the company's future performance.