Adani Transmission reports a 61% decline in consolidated net profit after tax

4 Aug 2022 , 07:48 AM

Adani Transmission Ltd., a transmission firm, reported a 61% decrease in its consolidated net profit after tax for the three months ending in June 2022, coming in at Rs168 crore. The June quarter of the previous fiscal year saw a profit of Rs433 crore.

The company claimed that because of a one-time income of Rs288 crore (Rs238 crore net-off tax) in the first quarter of the previous fiscal year and a negative FX movement of Rs185 crore in the current quarter, the data are not comparable.

Because to the opening of new transmission lines and increased energy consumption, overall revenue for the quarter increased by 22%.

Consolidated operational profit, or consolidated EBITDA, climbed by 10% to Rs1,213 crore in the quarter, while consolidated cash profit increased by 16% to Rs731 crore from Rs633 crore in Q1FY22.

Despite the difficult macroeconomic situation, Anil Sardana, MD & CEO of Adani Transmission Ltd, stated that “ATL’s growth trajectory is robust.” Our recently operationalized assets and pipeline of projects will further bolster our pan-Indian footprint and solidify our status as India’s largest private sector transmission & distribution company.

According to the corporation, over time, newly commissioned lines drove revenue growth in the transmission industry, while a large increase in energy demand resulted in higher revenue for the distribution business. Both segments’ operational EBITDA increased by 10% during the quarter.