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Adani Transmission Q1 Result: Revenue Jumps 11%, Profit Misses Estimates

The power transmission company's Q1 revenue rose 11% year-on-year to Rs 3,131.9 crore.

<div class="paragraphs"><p>(<a href="https://unsplash.com/@thejohnnyme">Nikola Johnny Mirkovic</a>/Unspalsh)</p></div>
(Nikola Johnny Mirkovic/Unspalsh)

Adani Transmission Ltd.'s quarterly revenue rose aided by newly commissioned power lines and increase in energy demand.

The power transmission company's revenue grew 11% year-on-year in the first quarter ended June to Rs 3,131.9 crore. That compares with Bloomberg's consensus estimate of Rs 2,700.6 crore.

Other Highlights (YoY)

  • Net profit fell 57% to Rs 186 crore. Analysts expected Rs 259.7 crore.

  • Operating profit fell 52% to Rs 673.3 crore.

  • Ebitda margin at 21% against 50%. oper

The net profit for the first quarter of FY22 included a one-time income of Rs 288 crore on account of arrears revenue approved by the Maharashtra Electricity Regulatory Commission in Maharashtra Eastern Grid Power Transmission project in June 2021, the company said in a statement.

Net profit also included adverse forex movement of Rs 185 crore on account of mark-to-market adjustment on foreign currency loans.

The number of units sold rose 26% year-on-year, driven by a rise in demand from commercial and industrial segments.

The Ahmedabad-based company's distribution losses also remained low due to high collection efficiency and loss reduction measures, it said.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.