Adani Transmission Q2 net profit falls 33% to Rs 67 crore

Adani Transmission today said its consolidated net profit after tax fell by 33 per cent to Rs 66.69 crore in the second quarter ended on September 30.

Its consolidated net profit after tax was Rs 99.54 crore for the quarter ended on September 30, 2016, Adani Transmission Ltd said in a BSE filing.

"Comparable Consolidated PAT remains steady at Rs 67 crore in Q2FY18 compared to Rs 66 crore in Q2FY17 (excluding one-time deferred tax reversal adjustment of Rs 34 cr)," the company said in a statement.

Total comprehensive income for the quarter under review was down at Rs 9.43 crore as against Rs 32.41 crore in the year ago period, the filing said.

Revenue from operations rose to Rs 752.86 crore compared with Rs 688.44 crore in the year-ago quarter.

The company also said it has entered into a period of exclusivity with Reliance Infrastructure (RInfra) until January 15, 2018 in relation to discussions for the proposed acquisition of the integrated business of generation, transmission and distribution of power for Mumbai City from RInfra.

Commenting on the results Adani Group chairman Gautam Adani said, "Adani Transmission continues to pursue the organic as well as inorganic growth opportunities. We have a strong & seamless integration of processes, people & technology which has laid a strong foundation for us to create the value for our stakeholders".