Adani Transmission net profit falls 7.6% to Rs 237 cr in March quarter

Adani Transmission on Thursday reported a decline of 7.6 per cent in its consolidated net profit to Rs 237 crore in the March quarter.

The consolidated net profit of the company was Rs 256.55 crore in the quarter ended on March 2021, according to a company statement.

Total income rose to Rs 3,165.35 crore in the quarter from Rs 2,875.60 crore in the year-ago period.

According to the company, the decline in profit was on account of net forex movement (Mark To Market) of Rs 82 crore in distribution business.

The consolidated net profit in 2021-22 fiscal also dipped to Rs 1,236 crore. It stood at Rs 1,290 crore in the year-ago period.

The company also explained that the consolidated PAT (profit after tax or net profit) ended 4.2 per cent lower at Rs 1,236 crore in FY22 due to deferred tax recognition in (power) distribution business in FY21.

Total income in the period under review rose to Rs 11,861.47 crore as against Rs 10,458.93 crore in the previous year.

It stated that the growth in transmission business was driven by newly commissioned lines.

Distribution business revenue growth was better on the account of strong energy demand and better collection efficiency, it added.

"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 & distribution company in India," Anil Sardana, MD & CEO of Adani Transmission Ltd said.