Adani Transmission Q2 profit falls 7% at ₹214 crore
1 min read.Updated: 05 Nov 2020, 09:01 PM ISTPTI
Total expenses were at ₹2,044.13 crore as against ₹2,300.51 crore in the year-ago period
Distribution ensured more than 99.99% supply reliability despite challenges on the ground
Adani Transmission Ltd (ATL) on Thursday posted about 7% fall in consolidated net profit at ₹214.13 crore for September quarter 2020-21, mainly on account of reduced income.
In the year-ago period, the net profit was ₹230.43 crore, the company said in a BSE filing. Total income during July-September reduced to ₹2,306.45 crore from ₹2,638.32 crore a year ago. Total expenses were at ₹2,044.13 crore as against ₹2,300.51 crore in the year-ago period.
“There is abundant potential for increased growth in India's transmission sector in the coming years. We are spearheading our energies and efforts towards providing reliable power supply across the nation. With the government's core objective of 24x7 power for all, considering anticipated growth and demand for power in major parts of the country, ATL is committed to deliver continuous growth and is helping in strengthening the transmission network across the nation," Gautam Adani, Chairman, Adani Group, said in a statement.
The company is well-positioned to fulfil India's electricity needs and looking forward to delivering long-term sustainable value through its efficient management of electricity networks, he said.
Adani Transmission MD & CEO Anil Sardana said, "ATL is constantly benchmarking to be the best-in-class and is pursuing focused approach to be world-class integrated utility through development agenda coupled with de-risking of strategic and operational aspects, capital conservation, ensuring high credit quality and forging strategic partnerships for business excellence and high governance standards."
He said ATL is maintaining 24x7 quality power supply despite challenges posed by health and pandemic issues. According to the company, during the quarter, the transmission system availability was at 99.9% as against 99.78% in July-September 2019-20.
Distribution ensured more than 99.99% supply reliability despite challenges on the ground. Distribution losses came down to 3.16% during September quarter from 8.16% in the year-ago period. Adani Transmission is the transmission and distribution (T&D) business arm of the Adani Group.
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