Adani Transmission reported 21.9% rise in consolidated net profit to Rs 433 crore in Q1 FY22 from Rs 355 crore in Q1 FY21.
Consolidated operational revenue increased 18.1% YoY to Rs 2,499 during the quarter, due to double-digit growth in transmission revenue and supported by recovery in distribution business revenue led by rebound in power demand in Mumbai. In Q1 FY22, the transmission business revenue was at Rs 757 crore (up 11.4% YoY) while the distribution business revenue was at Rs 1,742 crore (up 21.2% YoY).
EBITDA remained flat at Rs 1,496 crore in Q1 FY22 as compared with Rs 1,491 crore in Q1 FY21.
Profit before tax in Q1 FY22 stood at Rs 540 crore, up by 12.1% from Rs 482 crore in Q1 FY21.
In the transmission business, the company operationalised 207 circuit kilometer (ckt kms) in Obra line during the quarter with total network at 18,801 ckm. Transmission lines operated at greater than 99.85% (average) availability during Q1 FY22. The transmission system availability was at 99.85% in Q1 FY22 as against 99.87% in Q1 FY21.
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In the transmission business, the company maintained supply reliability of 99.99%. Units sold in Q1 FY22 increased by 18% to 2,036 units, on account of rise in power demand. Distribution losses were at 6.88% in Q1 FY22 as against 13.47% in Q1 FY21, due to billing basis actual meter reading.
Collection efficiency at Adani Electricity Mumbai (AEML), the subsidiary of Adani Transmission (ATL), returned back to normal levels and stood at 100.58% in Q1 FY22.
Anil Sardana, MD & CEO, Adani Transmission, said: ATL's recent acquisitions Alipurduar Transmission and Warora-Kurnool Transmission) and robust under construction pipeline will further bolster its pan-India presence, consolidating further its position as the largest private sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022.
Adani Transmission is the transmission and distribution business arm of the Adani Group, one of India's largest business conglomerates.
The scrip rose 0.70% to end at Rs 938.55 on the BSE today.
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