Adani Transmission Q4 net slightly down to Rs 95 cr; income up by Rs 200 cr

For fiscal 2017, the company reported a 13.17% increase in net profit

Adani Transmission Ltd (ATL) on Saturday reported 5.17 per cent decline in consolidated net profit for the fourth quarter ended March 31 at Rs 94.9 crore.

The power transmission arm of the diversified Adani Group had reported a net profit of Rs 100.08 crore in the corresponding period of last fiscal.

Total income for the January-March quarter, however, increased to Rs 841.37 crore from Rs 647.35 crore in Q4 FY16, registering a growth of 30 per cent, the company said in a statement here.

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

For fiscal 2017, the company reported a 13.17 per cent increase in net profit at Rs 416.43 crore from Rs 367.94 crore in FY16, while revenues grew to Rs 2901.55 crore from Rs 2267.39 crore in fiscal 2016-17.

During Q4 FY17, the company received three LOIs from RVPNL (Rajasthan Rajya Vidyut Prasaran Nigam) of around 350 ckms of lines and 16 substations with transformation capacity of nearly 600 MVA at a voltage level of 132/220 KV on build, own, operate and maintain (BOOM) basis in Rajasthan.

"With the completion of all ongoing projects and acquisition of Reliance Infra's operational transmission assets along with these three projects, the network of ATL is expected to surpass 11,000 ckt kms," the company said.

It said construction of projects won under tariff- based competitive bidding (TBCB) are well ahead of scheduled time of completion and within the budget.