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By Malvika Gurung
Investing.com – Adani Ports and Special Economic Zone Ltd (NS:)
The largest multi-port operator’s net profit dropped 5.7% to Rs 1,472.3 crore for the December quarter on a YoY basis, exceeding the Street’s estimates.
The revenue generated by the company in the quarter under review rose 1.3% YoY to Rs 3,797 crore, also higher than the analysts’ expectations.
EBITDA margin declined from 71.9% in Q3 FY21 to 63.7% in Q3 FY22. In the past year, the Adani Group’s stock has rewarded investors with a return of 36.1%, outperforming the index.
Shares of the company ended 3.13% higher at Rs 738.75 apiece on Tuesday.
Tech Mahindra Ltd (NS:)
The IT services provider’s net profit rose 2.2% sequentially to Rs 1,368.5 crore in Q3, missing Street’s estimate.
Its revenue from operations climbed 5.2% QoQ to Rs 11,451 crore, slightly lower than analysts’ expectations.
The IT company’s EBIT margin came in at 14.8% in the Dec 2021 quarter, compared to 15.2% in the September 2021 quarter.
Shares of the company ended 1.8% higher at Rs 1,505.75 apiece on Tuesday.
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