Adani Transmission’s consolidated profit rises 85% y-o-y in Q4

30 May 2023 , 11:36 AM

Adani Transmission announced its results for the quarter ended March 31, and it reported an 85% y-o-y increase in consolidated net profit of Rs 440 crore. In the previous year, the figure was Rs 237 crore.

The company mentioned in its filing with the exchanges that the growth was primarily fueled by a one-time income of Rs 148 crore from a regulatory order in the transmission business. The said income has a net positive impact of Rs 21 crore after adjusting for a provision of Rs 131 crore (net of tax) Rs 101 crore. Company’s growth is further aided by a mid-term true-up order by the regulator in AEML.

Company’s net profit increased to Rs 1,281 crore in FY23 against Rs 1,236 crore in FY22.

Consolidated revenue from operations during the quarter under review surged 17% year-on-year to Rs 3,031 crore, up from Rs 2,582 crore in the same quarter last year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 28% to Rs 1,570 crore.

In FY23, revenue jumped 19% y-o-y at Rs 12,149 crore compared to Rs 10,184 crore in FY22.

The board of directors has also announced that the company has reappointed Anil Sardana as the managing director for a five-year term beginning May 10.

Subject to various approvals, the company’s board has also granted approval for changing the company’s name from Adani Transmission to Adani Energy Solutions.

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