Adani Transmission posts 7% fall in net profit at Rs 214 cr in Q2

Adani Transmission Ltd (ATL) on Thursday posted about 7 per cent fall in consolidated net profit at Rs 214.13 crore for September quarter 2020-21, mainly on account of reduced income.

In the year-ago period, the net profit was Rs 230.43 crore, the company said in a BSE filing.

Total income during July-September reducedto Rs 2,306.45 crore from Rs 2,638.32 crore a year ago.

Total expenses were at Rs 2,044.13 crore as against Rs 2,300.51 crore in the year-ago period.

There is abundant potential for increased growth in India's transmission sector in the coming years. We are spearheading our energies and efforts towards providing reliable power supply across the nation.

"With the government's core objective of 24x7 power for all, considering anticipated growth and demand for power in major parts of the country, ATL is committed to deliver continuous growth and is helping in strengthening the transmission network across the nation," Gautam Adani, Chairman, Adani Group, said in a statement.

The company is well-positioned to fulfil India's electricity needs and looking forward to delivering long-term sustainable value through its efficient management of electricity networks, he said.

Adani Transmission MD & CEO Anil Sardana said, "ATL is constantly benchmarking to be the best-in-class and is pursuing focused approach to be world-class integrated utility through development agenda coupled with de-risking of strategic and operational aspects, capital conservation, ensuring high credit quality and forging strategic partnerships for business excellence and high governance standards."

He said ATL is maintaining 24x7 quality power supply despite challenges posed by health and pandemic issues.

According to the company, during the quarter, the transmission system availability was at 99.9 per cent as against 99.78 per cent in July-September 2019-20.

Distribution ensured more than 99.99 per cent supply reliability despite challenges on the ground. Distribution losses came down to 3.16 per cent during September quarter from 8.16 per cent in the year-ago period.

Adani Transmission is the transmission and distribution (T&D) business arm of the Adani Group.