Adani Transmission Q2 net profit falls 33 per cent to ~67 cr

Adani Transmission on Saturday said its consolidated net profit after tax fell by 33 per cent to ~66.69 crore in the second quarter ended on September 30. Its consolidated net profit after tax was ~99.54 crore for the quarter ended on September 30, 2016, Adani Transmission Ltd said in a BSE filing.

“Comparable consolidated PAT remains steady at ~67 crore in Q2 FY18 compared to ~66 crore in Q2 FY17 (excluding one-time deferred tax reversal adjustment of ~34 crore),” the company said in a statement.

The total comprehensive income for the quarter under review was down at ~9.43 crore as against ~32.41 crore in the year ago period, the filing said. Revenue from operations rose to ~752.86 crore compared with ~688.44 crore in the year-ago quarter. The company also said it had entered into a period of exclusivity with Reliance Infrastructure (RInfra) until January 15, 2018, in relation to discussions for the proposed acquisition of the integrated business of generation, transmission and distribution of power for Mumbai city from RInfra.

Adani Group chairman Gautam Adani said, “Adani Transmission continues to pursue the organic as well as inorganic growth opportunities. We have a strong and seamless integration of processes, people and technology which has laid a strong foundation for us to create the value for our stakeholders.”