Adani Transmission Ltd's Q2FY19 consolidated net profit rises 42.7% yoy to Rs95cr

The company’s consolidated revenue stood at Rs1,391cr, up 42.7% yoy and but down 43.8% qoq

Nov 03, 2018 09:11 IST India Infoline Research Team

Adani Transmission Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 1,391 86.4
EBITDA 611 37.0
EBITDA Margin (%) 43.9 [1,593]
Net Profit (adjusted) 95 42.8
***EBITDA margin change is bps

Adani Transmission (ATL) reported strong growth in revenues and earnings for Q2FY19. Revenue rose by 86.4% yoy to Rs1,391cr. EBITDA stood at Rs611cr, up 37% yoy. EBIDTA margin contracted by 1,593bps yoy to 43.9%. Net Profit stood at Rs95cr, up 42.8% yoy.
  • Operational Performance Network availability ranged from 99.36% to 100% in Q2FY19.
  • Operational EBIDTA margin for the Transmission and distribution businesses stood at 92% and 30% in Q2FY19.
  • The company expects to achieve COD of 11 elements presently under construction in H2FY19.
  • The newly acquired Mumbai power distribution business reported a cash profit of Rs86cr in Q2FY19.
  • The Company has signed an SPA with KEC International for acquiring 100% stake in KEC Bikaner Sikar Transmission Private Limited having operational transmission lines aggregating ~ 344 ckt kms. The enterprise value for the transaction stands at Rs228cr.
  • With completion of all ongoing projects, acquisition of Reliance Infrastructure’s Integrated Business and under Acquisition KEC project total network of ATL will be accumulate to 12,923ckt kms divided into 10,357 ckt kms operational assets (including under acquisition) and appx. 2566 ckt kms are under construction assets. By the end of 2018, ATL will have 35 substations with ~19,300 MVA of transformation capacity across the country.




Technical View:

Adani Transmission Ltd ended at Rs. 178.25, up by 1.1 points or 0.62% from its previous closing of Rs. 177.15 on the BSE.
The scrip opened at Rs. 178.15 and touched a high and low of Rs. 184.50 and Rs. 177 respectively. A total of 3,46,162 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.


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