Adani Transmission reports 22% rise in consolidated revenue to Rs 3,049 crore in Q1 FY23

Adani Transmission reports 22% rise in consolidated revenue to Rs 3,049 crore in Q1 FY23

Ahmedabad, August 4, 2022

Adani Transmission Limited (ATL), the largest private transmission company in India and part of the globally diversified Adani portfolio, on Wednesday reported a 22% increase in its consolidated revenue to Rs 3,049 crore in the first quarter of 2022-23 from Rs 2,499 crore in the same quarter of the previous financial year.

Announcing its financial results for the quarter ended June 30, the company said its consolidated operational EBITDA grew 10% year-on-year (YoY) to Rs 1,213 crore in this period. The total EBITDA, however, was 11.4% lower at Rs 1,326 crore as compared to Rs 1,496 crore in Q1 of FY22.

The company said the double-digit growth in revenue was attributable to new transmission lines coming into operation and higher energy demand.

The consoliated profit after tax (PAT) at Rs 168 crore in Q1 FY23 was 61% lower than Rs 433 crore in the same period of the last fiscal. The company said the figures were not comparable due to a one-off income of Rs 288 crore, net of tax, in Q1 FY22 and adverse movement of Rs 185 crore in Q1 of this year.

Consolidated cash profit (excluding one-time) of Rs 731 crore in Q1 FY23 showed an increase of 16% from Rs 633 crore in Q1 FY22.

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.”

ATL has a cumulative transmission network of ~18,795 ckm, out of which ~14,651 ckm is operational and ~4,064 ckm is at various stages of construction. ATL also operates a distribution business serving 12 million+ consumers of Mumbai and Mundra SEZ.

A press release from the company said it operationalized 372 ckm in Q1FY23 and maintained system availability at 99.2%. Energy demand (units sold) improved by 26% YoY in Q1FY23 driven by rise in commercial segment and industrial segment demand. Distribution losses remained low on account of high collection efficiency and loss reduction measures

"With India’s energy requirement set to quadruple in coming years, ATL is fully geared to create a strong and reliable power transmission network and work actively towards serving retail customers and achieving ‘Power for All’ by 2022," the company added.

NNN

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