Adani Transmission's revenue of Rs 3,049 crore increased 22% YoY

Ahmedabad, Aug 3 (IANS) Adani Transmission Ltd (ATL), the largest private transmission company in India and part of the globally diversified Adani portfolio, on Wednesday announced its financial and operational performance for the quarter ended June 30, 2022.

Consolidated revenue in Q1FY23 witnessed double-digit growth of 22 per cent YoY on account of new transmission lines coming into operation and higher energy demand.

Consolidated Operational EBITDA increased 10 per cent YoY to Rs 1,213 crore in the quarter. Consolidated PAT at Rs 168 crore in Q1FY23 ended lower YoY. It is not comparable due to Rs 288 crore one-off income (Rs 238 crore net-off tax) in Q1FY22 and adverse forex movement of Rs 185 crore in the current quarter. Consolidated cash profit (excluding one-time) of Rs 731 crore increased 16 per cent from Rs 633 crore in Q1FY22.

Transmission business revenue growth was driven by newly commissioned lines over the period. Distribution business revenue increased on account of significant jump in energy demand. Operational EBITDA in both segments grew by 10 per cent during the quarter.

Adani Transmission completed Rs 3,850 crore Primary Equity Transaction with International Holding Company (IHC) for 1.4 per cent stake. It announced acquisition of Mahan Sipat Transmission Line from Essar Power for EV of Rs 1,913 crore. The transaction once completed will add 673 ckms to ATL's operational portfolio. ATL figures in top three companies in Power sector in India in ESG Yearbook released by Crisil in May 2022. ATL achieved Zero Waste to Landfill (ZWL) certificate for all O&M sites from Intertek Group.

Anil Sardana, MD & CEO, Adani Transmission Ltd said: "ATL is constantly evolving and is already a significant player in the T&D sector. ATL's growth trajectory remains firm despite the challenging macro 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 & distribution company in India. ATL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality and business excellence with high governance standards. The journey towards a robust ESG framework and practicing a culture of safety is integral to our pursuit of enhanced long-term value creation for all our stakeholders."