Adani Transmission posts Q1 standalone net loss of ₹19 crore

Our Bureau Ahmedabad | Updated on August 05, 2021

Standalone total income increases to ₹206 crore for the quarter

Adani Group’s transmission arm, Adani Transmission Limited, posted net loss of ₹19 crore on standalone basis for the quarter ended June 30, 2021, against the profit of ₹4 crore in the corresponding quarter a year ago.

Standalone total income increased to ₹206 crore (₹169 crore) for the quarter. Total income includes ₹42 crore (₹0.06 crore) from operations and ₹164 crore (₹169 crore) as other income.

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On a consolidated basis, the company posted net profit of ₹433 crore, against ₹355 crore in the corresponding quarter last year, indicating a rise of 22 per cent year-on-year. Consolidated total income stood at ₹2,936 crore (₹2,543 crore) for the quarter, including ₹2,787 crore (₹2,446 crore) as revenue from generation, transmission and distribution business and ₹43 crore (₹0.35 crore) from trading business. Other income stood at ₹106 crore (₹96 crore) for the quarter.

The transmission segment generated revenues of ₹1,045 crore (₹1,009 crore) for the quarter, while Mumbai city generation, transmission and distribution business fetched ₹1,741 crore (₹1,437 crore) revenues during the quarter.

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Consolidated EBITDA for the quarter stood at ₹1,496 crore, the company informed.

During the quarter, Adani Electricity Mumbai Limited, a subsidiary of ATL, has established a $2-billion global medium-term notes programme on July 13, and, as its first takedown, AEML has issued the sustainability-linked bonds of $300 million through 10-year notes with 3.867 per cent coupon rate.

“The funds raised under the first takedown has been partially utilised to prepay existing external commercial borrowings (ECBs) amounting to $175 million (approx ₹1,300 crore) on July 26, 2021,” the company said in a regulatory filing.

As per the terms related to the use of proceeds, $125 million will be utilised for capital expenditure or general corporate purpose.

“Adani Transmission is constantly evolving and growing into a trendsetting organisation. ATL’s recent acquisitions (APTL and WKTL) and robust under-construction pipeline will further bolster its pan-India presence, consolidating further its position as the largest private sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022,” said Anil Sardana, MD and CEO, Adani Transmission Ltd, after the board meeting on Thursday.

ATL shares traded positive with gains of close to 2 per cent on BSE at ₹947 Thursday.

Published on August 05, 2021

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