New Delhi: Adani Transmission Ltd (ATL) on Wednesday said its consolidated profit-after-tax saw an eight-fold rise at Rs842 crore in the quarter through December 2017.
The company had posted a PAT of Rs99.28 crore during the corresponding period of the previous fiscal. “PAT for Q3 FY18 has increased to Rs842 crore compared to Rs99 crore for Q3 FY17. On a comparable basis excluding recovery of arrears, PAT for the Q3 FY18 has increased to Rs155 crore against Rs99 crore of Q3 FY17," the company said in a statement.
Its consolidated income rose to Rs1,807.81 crore during the period under review as against Rs734.43 crore in the corresponding period of the previous fiscal.
Total expenses were recorded at Rs727.52 crore as against Rs611.03 crore during the corresponding period last fiscal.
“The overall financial performance was good," the company said, adding that the operational Ebidta for Q3 of FY18 is Rs1,432 crore. The company said it has signed a binding share purchase agreement (SPA) with R-Infra to acquire the Mumbai Generation, Transmission and Distribution (GTD) business. The GTD business caters to 3 million customers, making it the country’s largest private sector integrated power utility, entailing 1,892MW of power distribution along with generation facilities, it said.
“The company is in the process of finalising the financing for the transaction. The company is in discussions with the banks for existing debt package of ₹ 8,500 crore at the target SPV level, subject to market conditions and other considerations," it said in the statement.