Adani Transmission rises 5%, hits new high post March quarter results

Shares of Adani Transmission (ATL) rose 5 per cent to Rs 1,187.60, also its new high, on the BSE in intra-day trade on Friday after the company’s consolidated profit after tax jumped over four-fold at Rs 257 crore in March quarter (Q4FY21). The transmission and distribution business arm of the Adani Group had posted profit of Rs 59 crore in the year-ago quarter. The stock surpassed its previous high of Rs 1,147, touched on April 6.

The company’s revenue during the quarter under review grew 3 per cent at Rs 2,276 crore from Rs 2,220 crore. The operational Ebitda (earnings before interest, taxes, depreciation, and amortisation) jumped 18 per cent to Rs 1,034 crore over the previous year quarter. Operating Ebitda margin improved 600 basis points (bps) to 45.43 per cent from 39.41 per cent.

On a full year basis, the company’s revenue declined 14 per cent year on year (YoY) to Rs 8,840 crore, while operational Ebitda up 4 per cent to Rs 4,233 crore. Consolidated operational revenue was in FY21 mainly due to lower revenue contribution from Distribution business led by lower power consumption in commercial and industrial segment in first half of FY21. However, operational revenue from Transmission business was unaffected in FY21, the company said.

ATL acquired Warora-Kurnool Transmission Limited (WKTL) owned by Essel InfraProjects Limited adding 1,750 ckt kms to its total transmission network of 17,276 ckt kms. With the amendment in electricity act, the Distribution sector to offer tremendous growth opportunities, it said.

ATL is the country’s largest private transmission company with a cumulative transmission network of around 17,200 ckt km, out of which around 12,350 ckt km is operational and around 4,850 ckt km is at various stages of construction. ATL also operates a distribution business serving about 3 million+ customers in Mumbai. With India’s energy requirement set to quadruple in coming years, ATL is fully geared to create a strong and reliable power transmission network and work actively towards serving retail customers and achieving ‘Power for All’ by 2022.

At 02:15 pm, the stock was trading 4 per cent higher at Rs 1,175 on the BSE, on the back of over three-fold jump in trading volumes. A combined 1.2 million equity shares have changed hands on the counter on the NSE and BSE, so far. In the past one week, the stock has gained 13 per cent, against 1 per cent rise in the S&P BSE Sensex. While, in the past three months, it zoomed 125 per cent, as compared to 3 per cent decline in the benchmark index.