Adani Transmission reports Q1 PAT of Rs 168 cr

Adani Transmission Limited (ATL) on Wednesday reported a consolidated net profit after tax (PAT) of Rs 168.46 crore for the quarter ended June 30. The consolidated PAT of the company in the year-ago period stood at Rs 433.24 crore, according to a regulatory filing.

The company's total income from operations was at Rs 3,249.74 crore in the first quarter of the current fiscal, and Rs 2,935.72 crore in the same period last year.

Expenses were at Rs 3,582.59 crore as against Rs 2,380.14 crore earlier.

In a separate statement, the company said "the consolidated profit after tax (PAT) in Q1FY23 ended lower y-o-y. It is not comparable due to Rs 288 crore one-off income (Rs 238 crore net-off tax) in Q1FY22 and adverse forex movement of Rs 185 crore in the current quarter."

Anil Sardana, MD and CEO, , said the company's pipeline of projects and recently operationalised assets will further strengthen its pan-India presence and consolidate position as the largest private sector transmission and distribution firm in India.

According to the statement, the company recently completed Rs 3,850 crore primary equity transaction with International Holding Company (IHC).

It also announced acquisition of Mahan Sipat Transmission Line from Essar Power for Rs 1,913 crore. The transaction will add 673 ckms (circuit kilometers) to ATL's operational portfolio.