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Business News/ Markets / Stock Markets/  Adani Transmission shares down by nearly 2% ahead of Q4 results

The shares of Adani Transmission were trading nearly 2 per cent down on Monday ahead of the company announcing its March quarter results.

On Monday, the company's shares were down by 1.62 per cent at 837 on BSE. 

Adani Transmission Ltd board has approved fund raise proposal allowing issuance of fresh equities. The board of directors of the company considered and approved the proposal for fund raise in its scheduled board meeting on Saturday. However, issuance of fresh equities not exceeding 8,500 crore is subject to approval by approval of the company through postal ballot process.

Adani Transmission reported a 77.8 per cent rise in consolidated net profit of 474.72 crore for December 2022 quarter. This is against a net profit of 267.03 crore in the year ago period.

Overall, the revenue rose by 22 per cent to 3,551.7 crore in Q3FY23 against 2,911.7 crore in the corresponding period of previous year, said Adani Transmission in its regulatory filing.

The consolidated revenue from operations from generation, transmission and distribution business in December quarter stood at 3,277.03 crore, up by 25 per cent from 2,613.35 crore in the corresponding quarter last fiscal. However, revenue in trading business came in at 274.67 crore in December quarter versus 298.35 crore in Q3FY22.

EBITDA also witnessed robust growth of 64% to 1,477.5 crore in Q3FY23 compared to 900.9 crore in Q3 of previous fiscal. Margins expanded to 41.6% in Q3FY23 versus 30.9% in Q3FY22

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Updated: 29 May 2023, 10:32 AM IST
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