Adani Transmission net profit dips 40% to Rs 277 cr in Dec quarter

Adani Transmission on Thursday reported a 40 per cent decline in its consolidated net profit to Rs 277 crore for the December 2021 quarter.

The company had reported a consolidated net profit of Rs 464 crore in the quarter ended December 31, 2020, according to a BSE filing.

Its total income during October-December 2021 rose to Rs 3,085.20 crore, from Rs 2,734.04 crore in the year-ago period.

"In Q3 (third quarter), the consolidated PAT (profit after tax) decline of Rs 187 crore, (-)40.3 per cent y-o-y decline.

"Q3FY22 PAT (October-December 2021) not comparable y-o-y on account of Rs 62 crore reversal of earlier interim power purchase bill, one-time deferred tax assets creation of Rs 129 crore and forex MTM gain of Rs 40 cr in Q3FY21 (October-December 2020) in (electricity) distribution business," the company said in a statement.

Anil Sardana, MD and CEO of Adani Transmission, in the statement said, "Adani Transmission is constantly evolving and becoming a significant player in T&D sector. Further, we added MUL, the distribution business at Mundra SEZ, with a good opportunity to grow into a formidable distribution company."

He added that ATL's robust growth pipeline and recently operationalised projects will further strengthen its pan-India presence and consolidate its position as the largest private-sector transmission company in India.