Adani Transmission Ltd. (ATL) has posted an 85.48% jump in its consolidated net profit to ?439.60 crore during March FY23 quarter, helped by higher income.
It had clocked a net profit of ?237 crore during the January-March quarter of the preceding 2021-22 financial year (FY), the company said in a regulatory filing on Monday.
The total income of the company increased to ?3,494.84 crore from ?3,165.35 crore in the year-ago quarter.
For the whole FY23, the net profit rose to ?1,280.60 crore from ?1,235.75 crore recorded in FY22.
Total income during the entire fiscal stood at ?13,840.46 crore, up from ?11,861.47 crore in FY22.
In a separate statement, Gautam Adani, Chairman of Adani Group, said, "We are leaders in the transmission and distribution space and have consistently set new industry standards in efficiency, performance, and asset development. Adani Transmission is well positioned to deliver exponential growth, and we are working towards fulfilling our nation's massive electricity needs and strengthening our position as a world class utility."
He further said the company is accelerating the transition to a sustainable and reliable grid and ensuring continuous and reliable power supply across all regions through its assets in India. The focus remains strong on cashflow generation, operational excellence, and governance.
The company said its transmission business revenue growth in the fourth quarter was driven by newly-commissioned lines, and rise in distribution revenue on account of a consistent uptick in energy demand.
During the quarter, the transmission EBITDA (earnings before interest, tax, depreciation and amortization) rose by 9% to ?872 crore, while distribution EBITDA jumped 43% to ?834 crore.
"Q4 PAT (profit after tax) in the transmission business grew 11% to ?221 crore and distribution PAT at ?218 crore grew 478% y-o-y, aided by a mid-term true-up order by the regulator," it said.
The company operationalised 609 ckm (circuit kilometres) in Q4FY23 and maintained system availability at 99.68%.
ATL is the country's largest private transmission company, with a presence across 14 states and a cumulative transmission network of 19,779 ckm, out of which 15,371 ckm are operational and 4,408 ckm are at various stages of construction.