Companies

Adani Transmission standalone Q1 net rises to ₹3.68 crore

Our Bureau Ahmedabad | Updated on August 07, 2020 Published on August 07, 2020

Company says power demand picked up in July

Adani Transmission Limited registered standalone net profit of ₹3.68 crore as against ₹1.57 crore in the corresponding quarter a year ago, indicating a year-on-year rise of 134 per cent.

Company’s standalone total income stood at ₹169 crore for the first quarter as against ₹183 crore in the same period last year.

On consolidated basis, the company posted net profit of ₹355 crore as against ₹213 crore, a growth of over 66 per cent on year. Consolidated operational revenues for the quarter were ₹2,117 crore, as against ₹2,858 crore in the same quarter last year.

In its results announcement, the company informed that, “Due to lockdown, even though power demand is down due to lower consumption by industrial and commercial consumers slightly offset by retail demand, distribution business being a regulated asset there is no significant impact on EBIDTA margin.”

“Because of Covid-19, there was no impact on transmission business, however distribution business got affected due to lower power demand from C&I customers which had an impact on overall consolidated performance,” it added.

For its Mumbai market for electricity supplies, ATL said, “Economic activity in Mumbai is picking up post relaxation in lockdown. We noticed improvement in power demand in July and accordingly the collection scenario has improved substantially.”

ATL shares gained close to 8 per cent to end at ₹249.95 on BSE on Friday.

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Published on August 07, 2020
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