Adani Transmission Ltd posted its quarterly results for Q3 FY22 on February 3, 2022. The company posted a 4% quarter on quarter (QoQ) dip in its consolidated profit after tax (PAT) at Rs 276 crore from Rs 288 crore in the previous quarter. On a year on year (YoY) basis, the company reported a 40% dip in its PAT from Rs 463 crore in the year ago period. While the total expenses grew by 23.5% YoY to Rs 2,933 crore from Rs 2,373 crore in the year ago period. Meanwhile, Adani Transmission’s tax expenses also grew by a whopping 280% to Rs 118 crore from Rs 31 crore in Q3 FY21.
The company’s total income jumped 15.3% QoQ to Rs 3,085 crore from Rs 2,734 crore in Q2 FY22. The total income jumped ~13% YoY from Rs 2,734 crore in the year ago period.
The stock of Adani Transmission closed in the red at Rs 2,006.20 per share after taking a dip of 0.49% at the end of the intraday trading session ahead of its quarterly results on February 3, 2022.
Anil Sardana, MD & CEO, Adani Transmission Ltd said, “Adani Transmission is constantly evolving and becoming a significant player in T&D sector. Further, we added MUL – the distribution business at Mundra SEZ with a good opportunity to grow into a formidable distribution company. ATL’s robust growth pipeline and recently operationalised projects will further strengthen its pan-India presence and consolidate its position as the largest private sector transmission company in India. ATL is consistently benchmarking to be the best-in-class utility and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality and business excellence with high governance standards. The journey towards a robust ESG framework and practicing a culture of safety is integral to its pursuit of enhanced long-term value creation for all stakeholders.”
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Research Analyst: Bavadharini KS