[ad_1]
By Malvika Gurung
Investing.com – The country’s largest private transmission company Adani Transmission ( NS: ) released its earnings results for the quarter ending September on Wednesday, with net profit shrinking more than 30% in the period.
The mega-cap company’s consolidated net profit fell 32.7% on a YoY basis to Rs 194 crore in the September quarter, led by forex movements costing Rs 138 crore (mark-to-market adjustment on foreign currency loans).
The power transmission giant has stated that the quarterly bottomline figures cannot be compared with last year’s counterpart, as the latter witnessed a gain of Rs 6 crore in the business of Adani (NS:) Electricity Kota Sukabumi.
ATL’s consolidated revenue rose 22% YoY to Rs 3,032 crore on the back of higher energy demand and newly commissioned transmission lines in the quarter. Overall EBITDA advanced 5.6% YoY to Rs 1,362 crore, while distribution losses remained low, thanks to measures related to reducing losses and high collection efficiency.
Corporate energy demand grew by 13% on-year in Q2 driven by rising demand from the commercial and industrial segments. It sold a total of 2.233 million units of electricity from July-September 2022, compared to 1.975 million units sold in the period last year.
According to the transmission’s main management comments, the growth trajectory remains firm despite the challenging macro environment, as ATL’s project pipeline and newly operationalized assets will increase its pan-India presence.
[ad_2]
Source link
