Transmission arm of Adani Group, Adani Transmission Ltd, has posted a consolidated net profit of Rs 124 crore for the first quarter ended June 2016 against Rs 31 crore in the same period last year, showing a year-on-year growth of 299 per cent.

The company’s consolidated total income stood at Rs 638 crore during the quarter against Rs 470 crore in the corresponding quarter a year ago.

Tariff and incentive income increased to Rs 609 crore during the first quarter from Rs 468 crore. This includes net income of Rs 116.18 crore on account of effect of CERC and MERC orders. The effect on PAT is Rs 91.39 crore, the company stated, adding that it has preferred review/appeal against the order.

Consolidated EBIDTA rose 32 per cent to Rs 584 crore in the period under review from Rs 441 crore last year.

Gautam Adani, Chairman, Adani Group, said, “While the business continues to perform strongly, we have continued to achieve more than 93 per cent of operational EBIDTA margin for the quarter ended June of fiscal 2017. Our focus on harnessing state-of art technology has resulted in high network availability of over 99.40 per cent to 99.99 per cent.’’

The company’s transmission network is set to increase to 7,300 Ckt kilometer in next three years.

Adani Transmission has successfully concluded two capital market fund raising programmes - USD bond with overwhelming responses from global investors across Asia, USA, and London and rupee denominated INR offshore bond (Masala Bond).

Adani Transmission shares gained close to 2 per cent on the National Stock Exchange to trade at Rs 40.40 after results announcement.

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