 "Adani Transmission hits new high on heavy volumes")
Adani Transmission has moved higher to its record high of Rs 52.80, up 13% on BSE in intra-day trade on back of heavy volumes.
The trading volumes on the counter more than doubled with a combined 3.33 million shares changing hands till 11:08 am, against an average sub one million shares that were traded daily in past two weeks on the BSE and NSE.
Adani Transmission is the largest power transmission company operating in the private sector in India and owns, operate and maintain around 5,450 Ckt Kms of transmission lines ranging from 400 KV to 765 KV, with a total transformation capacity of more than 12,000 MVA.
Adani Transmission in October had bought the transmission assets of Reliance Infrastructure, which expected to be completed in current financial year. It also completed the acquisition of the GMR Energy transmission assets, which it bought in July this year.
The company said transmission network set to surpass 10000 Ckt kms on completion of acquisition of Reliance Infra’s transmission assets.
Adani Transmission had reported a consolidated net profit of Rs 100 crore for the quarter ended September 2016 against Rs 162 crore in the year ago quarter.
For the first half (April to September) of current financial year 2016-17, it posted profit of Rs 222 crore against Rs 193 crore in the same period last year.
Speaking on the financial performance of the company Gautam Adani, chairman Adani Group, said, “While the business continues to perform strongly with the network availability of over 99.40% to 100%, we have continued to achieve 94% of operational EBIDTA margin for the H1 FY17.”
With the ongoing expansions and inorganic growth resulting in increase in transmission network, Adani Transmission will enjoy substantial benefit of scale driving in terms of cost optimization and shared resources and thus creating value for its stake holders, he added.
The trading volumes on the counter more than doubled with a combined 3.33 million shares changing hands till 11:08 am, against an average sub one million shares that were traded daily in past two weeks on the BSE and NSE.
Adani Transmission is the largest power transmission company operating in the private sector in India and owns, operate and maintain around 5,450 Ckt Kms of transmission lines ranging from 400 KV to 765 KV, with a total transformation capacity of more than 12,000 MVA.
Adani Transmission in October had bought the transmission assets of Reliance Infrastructure, which expected to be completed in current financial year. It also completed the acquisition of the GMR Energy transmission assets, which it bought in July this year.
The company said transmission network set to surpass 10000 Ckt kms on completion of acquisition of Reliance Infra’s transmission assets.
Adani Transmission had reported a consolidated net profit of Rs 100 crore for the quarter ended September 2016 against Rs 162 crore in the year ago quarter.
For the first half (April to September) of current financial year 2016-17, it posted profit of Rs 222 crore against Rs 193 crore in the same period last year.
Speaking on the financial performance of the company Gautam Adani, chairman Adani Group, said, “While the business continues to perform strongly with the network availability of over 99.40% to 100%, we have continued to achieve 94% of operational EBIDTA margin for the H1 FY17.”
With the ongoing expansions and inorganic growth resulting in increase in transmission network, Adani Transmission will enjoy substantial benefit of scale driving in terms of cost optimization and shared resources and thus creating value for its stake holders, he added.
