Adani Transmission December-quarter net profit up 128% at Rs 464 cr

Adani Transmission on Thursday posted a nearly 128 per cent rise in consolidated net profit at Rs 464 crore for the quarter ended December 2020.

The consolidated net profit of the firm stood at Rs 204 crore in the quarter ended December 31, 2019, it said in a BSE filing.

Total income dipped to Rs 2,734.04 crore in the quarter from Rs 2,835.72 crore in the same period a year ago.

Gautam Adani, Chairman Adani Group, said, "The Power & Transmission sector has seen tremendous progress over the last two decades. Today, Government initiatives such as Saubhagya and the emphasis on renewables have significantly expanded electricity access."

The next two decades promise to usher in new opportunities for the sector based on the resurgence of the economy post the pandemic and a positive investor outlook. Adani Transmission is fully equipped to co-create a future in line with the needs of a nation at the cusp of global renewable energy leadership, he added.

Anil Sardana, MD and CEO, Adani Transmission Ltd, said, "Adani Transmission has successfully acquired and integrated yet another transmission asset in the eastern region."

"ATL is constantly benchmarking to be the best-in-class and is pursuing focused approach to be world-class integrated utility through development agenda coupled with de-risking of strategic and operational aspects, capital conservation, ensuring high credit quality and forging strategic partnerships for business excellence and high governance standards," he added.

Adani Transmission Limited (ATL) is the transmission and distribution business arm of the Adani Group, one of India's largest business conglomerates.

ATL is the country's largest private transmission company with a cumulative transmission network of more than 15,400 ckt kms (circuit kilometres), out of which more than 12,200 ckt kms are operational and more than 3,200 ckt kms at various stages of construction.

ATL also operates a distribution business serving about 3 million customers in Mumbai.