Adani Transmission reported strong earnings growth for Q4FY18, despite a slight revenue decline. Revenue fell by 3% yoy to Rs810cr. EBITDA stood at Rs491cr, up 6.6% yoy. EBIDTA margin expanded by 544bps yoy to 60.6%. Net Profit stood at Rs150cr, up 58.3% yoy
Operational Performance Network availability ranged from 99.83% to 100% in Q4FY18.
Operational EBIDTA margin for the Transmission business stood at 91% in FY18.
In Q4FY18, the company received a Letter of Intent from PFC Consulting Limited on BOOM basis for the “Fatehgarh-Bhadla Transmission Limited” project. The project has ~200ckt Kms of line at a voltage of 765kV and 1 substation at a voltage level of 400 kV.
The company completed the acquisition of operational transmission assets of Western Region Strengthening System Schemes - B & C of Reliance Infrastructure Limited (R-Infra).
Acquisition of Mumbai Suburban Distribution business is progressing as per schedule. The acquisition has obtained the approval of Competition Commission of India and is awaiting approval from MERC.
Adani Transmission Ltd is currently trading at Rs. 162.60, down by 1.1 points or 0.67% from its previous closing of Rs. 163.70 on the BSE.
The scrip opened at Rs. 165.50 and has touched a high and low of Rs. 166.90 and Rs. 159 respectively. So far 18,28,461 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 100 DMA.
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