Adani Transmission posts standalone Q1 loss of Rs 25 cr

However, consolidated net profit for the quarter was Rs 29.61 cr, on a total income of Rs 468.15 cr

Newly listed Adani Transmission Limited registered a net loss of Rs 24.56 crore on standalone basis for the quarter ended June 30, 2015. The power transmission arm of Adani Group saw its standalone income at Rs 30.91 crore for the first quarter of current financial year 2015-16.

On the other hand, Adani Transmission Limited posted a net profit of Rs 29.61 crore on consolidated basis along with a total income of Rs 468.15 crore in Q1 of 2015-16.

In an official communique, Adani Transmission Limited stated that figures for the previous quarter were not comparable as the company acquired the transmission business of Adani Transmission (India) Ltd and Maharashtra Eastern Grid Power Transmission Company Limited (MEGPTCL) with effect from March 2015.

Commenting on the results, Gautam Adani, Chairman of Adani Group stated that the listing of Adani Transmission Limited (ATL) was a step towards unlocking shareholders' value.

"ATL has become one of the largest private sector power transmission company in the country with the completion of consolidation of power transmission business. It will enable ATL to participate in the various growth opportunities being witnessed in the power transmission sector," he further stated.

Currently, ATL has over 5,000 circuit kilometers of transmission lines across Western & Northern regions of India along with 12,000 MVA transformation capacity. The company's shares on Bombay Stock Exchange (BSE) closed at Rs 35.75 per equity share, down by 0.83 per cent.