Adani Transmission net up nearly 22% at Rs 433 cr in April-June quarter

The rise of profit was mainly on the back of higher revenues

Adani Transmission posted nearly 22 per cent rise in its consolidated net profit at Rs 433.24 crore in the June quarter this year, mainly on the back of higher revenues.

The consolidated net profit of the firm was at Rs 355.40 crore in the quarter ended on June 30, 2020, the company said in a regulatory filing.

Total income rose to Rs 2,935.72 crore in the quarter under review, from Rs 2,542.84 crore in the same period last year.

In the first quarter of this fiscal, the company operationalized 207 ckm (circuit km) in the Obra line with a total network at 18,801 ckm.

Distribution losses were at 6.88 per cent in the quarter, compared to 13.47 per cent in the year-ago period.

The units sold increased by 18 per cent to 2,036 units, on account of rise in power demand.

"ATL's recent acquisitions (APTL and WKTL) and robust under construction pipeline will further bolster its Pan-India presence, consolidating further its position as the largest private sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022," said Anil Sardana, MD & CEO, Adani Transmission Ltd in a statement.