Adani Transmission fell 2.53% to Rs 291.40 after consolidated net profit slipped 7.1% to Rs 214.13 crore on 16.9% decline in net sales to Rs 2,156.19 crore in Q2 September 2020 over Q2 September 2019.
Consolidated profit before tax (PBT) jumped 12% to Rs 295.78 crore in Q2 September 2020 as against Rs 264.20 crore in Q2 September 2019. Current tax rebate for the quarter stood at Rs 17.18 crore as against a tax expense of Rs 35.29 crore in Q2 September 2019. The Q2 result was declared after trading hours yesterday, 5 November 2020.
Operational EBITDA fell 0.69% to Rs 1,001 crore in Q2 FY21 from Rs 1,008 crore in Q2 FY20. Operational EBITDA margin improved to 46.4% in Q2 FY21 as against 38.9% in Q2 FY20.
The company recorded strong transmission system availability at 99.9%. Distribution ensured more than 99.99% supply reliability despite challenges on ground. Distribution losses were at 8.51% in H1 FY21 improving significantly from 13.47% in Q1 FY21, on account of billing basis actual meter reading. Collection efficiency at AEML is back to normal levels and stood at 103.5% in Q2 FY21.
In transmission segment, operational revenue rose 2.07% to Rs 688 crore in Q2 September 2020 as compared to Rs 674 crore in Q2 September 2019. In distribution segment, revenue dropped 23.35% to Rs 1,467 crore in Q2 FY21 as against Rs 1,914 crore in Q2 FY20.
Speaking on the Q2 performance of the company, Gautam Adani, the chairman of Adani Group, said: "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, Adani Transmission Ltd is committed to deliver continuous growth and is helping in strengthening the transmission network across the nation. We are well- positioned to fulfil India's electricity needs and look forward to delivering long-term sustainable value through our efficient management of electricity networks. Our increasingly sustainable practices will help ensure ESG driven goals, one that will benefit not only key stakeholders but entire nation."
Adani Transmission operates as a power transmission company.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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