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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9270)	11/1/1999 11:42:00 PM
From: Mohan Marette	Respond to of 12475

Adani Exports Q2 net up 8% to Rs 41.16 cr adanigroup.com Jyotsna Bhatnagar (FE) Ahmedabad, Nov 1: Adani Exports, the flagship company of the Rs 2,700 crore Adani group achieved a growth rate of 27.5 per cent in the second quarter of the current financial year, thereby holding on to its position of the leading export trading house in the country. According to a company release, AEL's turnover touched Rs 1,192.63 crore ($271 mil) for the half-year period of the 1999-2000 fiscal. Overall, an 18 per cent growth rate has been registered for the half year ending September 30 compared to the corresponding half year period of last year. AEL's net profit too has gone up by 8.3 per cent during this period and stands at Rs 41.16 crore, up from Rs 38 crore in the corresponding period of the previous year. Chairman and managing director of the Adani group attributed the performance of the company to the group's strategy of "consolidating our position in both the international and domestic arena." The earning per share for AEL has risen from Rs 65.27 from the corresponding half year ended September 30, 1998 to the present Rs 69.61 per share. In addition, the present prevailing price of the equity has touched an all time high of Rs 1005 per share. it may be recalled that AEL exceeded a turnover of Rs 1,000 crore in 1996 and declared a 1:1 bonus. The super star trading house status was extended for another three years in 1997. Within a short span of two years, AEL's turnover has doubled and at Rs 2,417.8 crore, it is ranked among the highest foreign exchange earners in the private sector. In the year 1998-99, net profits touched an all time high of rs 65.7 crore.