Adani Transmission Q3 Results: Net Profit Jumps 73 Per Cent To Rs 478 Crore

Adani Transmission's consolidated revenue increased to Rs 3,037 crore in the third quarter of FY22-23 from Rs 2,623 crore in the same period a year ago

Adani Transmission's consolidated PAT reported a strong upside of 73 per cent, aided by a one-time income of Rs 240 crore from a regulatory order.

Source : Adani Transmission Ltd

Adani Transmission Ltd (ATL) on Monday logged a nearly 73 per cent jump in its consolidated net profit to Rs 478 crore in the December quarter (Q3) of 2022-23 on the back of a one-time income gain and higher revenues. The consolidated net profit of the company was Rs 277 crore in the quarter ended on December 31, 2022.

The consolidated revenue increased to Rs 3,037 crore in the third quarter of FY22-23 from Rs 2,623 crore in the same period a year ago. The company's consolidated PAT reported a strong upside of 73 per cent, aided by a one-time income of Rs 240 crore from a regulatory order, a company statement said.

Adani Transmission MD Anil Sardana said, "ATL’s growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India."

The company said operational EBITDA in both segments (transmission and distribution) grew by double-digit during the quarter (i.e. 12.7 per cent and 13.3 per cent, respectively).

At the operating level, its EBITDA (earnings before interest, tax, depreciation and amortisation) increased by 64 per cent to Rs 1,478 crore for the quarter, with margin climbing by 1,066 bps to 41.6 per cent compared to corresponding period of last fiscal year.

Adani Transmission is the country’s largest private transmission company, with a presence across 13 states of India and a cumulative transmission network of 18,795 ckm (circuit kilometers), out of which 15,371 ckm are operational and 3,424 ckm are at various stages of construction.

“ATL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards. The journey towards a robust ESG framework and practising a culture of safety is integral to our pursuit of enhanced long-term value creation for all our stakeholders,” Sardana said.

It also operates a distribution business, serving more than 12 million consumers in Mumbai and Mundra SEZ.

ATL shares declined by 10 per cent to close at Rs 1,261.40 on the BSE.