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Business News/ Companies / Company Results/  Adani Transmission consolidated profit jumps 78% to 474.7 crore in Oct-Dec
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Adani Transmission consolidated profit jumps 78% to ₹474.7 crore in Oct-Dec

Adani Transmission's revenue increased by 22% year on year to ₹3,551.7 crore, owing to the operation of new transmission lines and a positive trend in energy demand

Adani Transmission reported consolidated Ebitda of ₹1,708 crore in Q3FY23 (AFP)Premium
Adani Transmission reported consolidated Ebitda of 1,708 crore in Q3FY23 (AFP)

Mumbai: Adani Transmission Ltd on Monday reported a 78% increase in its consolidated net profit for the quarter ended December to Rs. 474.72 crore, aided by a 240 core gain on account of a one-time income from a regulatory order.

Adani Transmission's revenue increased by 22% year on year to 3,551.7 crore, owing to the operation of new transmission lines and a positive trend in energy demand, the company said.

The Gautam Adani-promoted company reported consolidated Ebitda of 1,708 crore in Q3FY23, up by 28.9% year-on-year. Ebitda is earnings before interest, taxes, depreciation, and amortization.

Adani Transmission saw energy demand increase by 4.4% year on year in Q3FY23, owing to an increase in commercial segment demand. The company added 371 ckms to its operational network in Q3FY23, bringing the total network to 18,795 ckms, and operationalised 3,500 MVA capacity, bringing the total capacity to 40,001 MVA.

"ATL is constantly evolving and is already a significant player in the T&D sector. 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," Anil Sardana, MD, Adani Transmission Ltd said.

“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," he added.

On Monday, the promoter of Adani group companies said it will prepay $1.11 billion in loans ahead of their maturity and release pledged shares in Adani Transmission, Adani Ports & Special Economic Zone and Adani Green Energy amid a meltdown in group shares following Hindenburg Research’s report alleging fraud and stock manipulation against the promoter.

According to a company statement, the promoter's early payment will help release 168.27 million shares of Adani Ports & Special Economic Zone Ltd, 11.77 million shares of Adani Transmission Ltd, and 27.56 million shares of Adani Green Energy Ltd.

Mint first reported on Monday that the Adani group plans to completely reduce its share pledges, citing an executive close to the development .

Shares of Adani Transmission today ended 10% lower at 1256.45 apiece on the NSE.

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Published: 06 Feb 2023, 06:05 PM IST
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