Shares of Adani Transmission will be in focus on Tuesday morning after the Adani group companies said its consolidated net profit for the March quarter jumped 85 per cent to Rs 440 crore compared with a profit of Rs 237 crore in the year-ago period. Adani Transmission said its bottom line was supported by one-time income of Rs 148 crore (net off tax Rs 122 crore) based on a regulatory order in the Transmission business. It was also aided by a mid-term true-up order by the regulator in AEML.
A conference call, hosted by Nuvama Wealth Management with the Adani Transmission management, is scheduled for today wherein the company’s financial results will be discussed. Anil Sardana (MD at Adani Transmission), Bimal Dayal (CEO), Kandarp Patel (CEO for Distribution), Rohit Soni (CFO), Kunjal Mehta (CFO for AEML) and Vijil Jain (Lead – IR) will be present on the call.
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On Monday, the Adani group company said its consolidated revenue was up 17 per cent at Rs 3,031 crore for the quarter against Rs 2,582 crore in the same quarter last year, thanks to new transmission lines becoming operational and an uptick in energy consumption. Ebitda was up 23 per cent at 1,706 crore.
Adani Transmission said Transmission business revenue growth in Q4 was driven by newly commissioned lines, and distribution revenue increased on account of a consistent uptick in energy demand. During the quarter, Transmission Ebitda grew 9 per cent to Rs 872 crore and distribution Ebitda jumped 43 per cent to Rs 834 crore.
"Q4 PAT in the Transmission business grew 11 per cent to Rs 221 crore, and distribution PAT at Rs 218 Cr grew 478 per cent YoY, aided by a mid-term true-up order by the regulator," Adani Transmission said.
The company said it operationalised 609 ckm in Q4 and maintained system availability at 99.68 oer cent. Energy demand (units sold) improved 11.5 per cent YoY, driven by a rise in commercial segment and industrial segment demand. Distribution losses were at 4.89 per cent and collection efficiency remained above 100 per cent.