Chandigarh, August 10, 2016: Adani Transmission Ltd, part of the Adani Group, today announced its results for first Quarter ended June 30, 2016.
(Clarification note: All Figures are in accordance with the applicable Ind-AS)
· The overall Financial Performance was robust.
· The Consolidated Total Income is Rs 638 crore in Q1FY17 as compared to total income of Rs. 470 crore in Q1FY16.
· Consolidated EBIDTA rose by 32 % to Rs 584 crore in Q1FY17 as compared to Rs. 441 crore in Q1FY16.
· The consolidated PAT is Rs 124 crore in Q1FY17 as compared to Rs. 31 crore in Q1FY16.
· CERC has issued final order effective 01.10.2013 for Mundra-Mohindergarh & Mundra-Dehgam Lines, granting approval of capital cost claimed. MERC has also issued provisional order for Tiroda-Warora and Tiroda-Aurangabad Lines. The effect of recognition of revised tariff including arrears of Rs. 116.18 Crs. is accounted for in this quarter. The effect on PAT is Rs 91.39 crores.
Company will start recovery of its unbilled revenue in 12 instalments starting Aug 2016 as MERC has passed Intra-state Transmission System (InSTS) orders for Tiroda-Aurangabad Line.
Adani Transmission Ltd. is the largest power transmission company operating in the private sector in India and owns, operate and maintain around 5,000 Ckt Kms of transmission lines ranging from 400 KV to 765 KV, with a total transformation capacity of more than 12,000 MVA. With completion of all ongoing projects and completion ongoing acquisition, the network is expected to increase from around 5000 Ckt Kms to 7300 Ckt Kms & will remain a bellwether as far as private transmission in India is concerned.
Speaking on the financial performance of the company Mr Gautam Adani, Chairman Adani Group, said, “While the business continues to perform strongly we have continued to achieve more than 93% of operational EBIDTA margin for the quarter ended June FY17. Our focus on harnessing state-of art technology has resulted in high network availability of over 99.40% to 99.99%. Adani Transmission continues to maintain its leadership position in the country and is poised to keep growing, leveraging benefits of new opportunities and thus creating value for its stake holders.”