Adani Transmission net up nearly 73% to Rs 478 cr in Q3 on higher revenue

Adani Transmission posted a nearly 73% jump in its consolidated net profit to Rs 478 crore in the December quarter of 2022-23 on the back of a one-time income gain and higher revenues

Adani Transmission Ltd (ATL) on Monday posted a nearly 73 per cent jump in its consolidated net profit to Rs 478 crore in the December quarter of 2022-23 on the back of a one-time income gain and higher revenues.

The consolidated net profit of the company was Rs 277 crore in the quarter ended on December 31, 2022.

The consolidated revenue increased to Rs 3,037 crore in the third quarter of FY2022-23 from Rs 2,623 crore in the same period a year ago.

Consolidated PAT reported a strong upside of 73 per cent, aided by a one-time income of Rs 240 crore from a regulatory order, a company statement said.

Adani Transmission MD Anil Sardana said, "ATL's growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India."

Adani Transmission is the country's largest private transmission company, with a presence across 13 states of India and a cumulative transmission network of 18,795 ckm (circuit kilometers), out of which 15,371 ckm are operational and 3,424 ckm are at various stages of construction.

It also operates a distribution business, serving more than 12 million consumers in Mumbai and Mundra SEZ.

ATL shares declined by 10 per cent to close at Rs 1,261.40 on BSE.