NE BUSINESS BUREAU
AHMEDABAD, FEB 3
Adani Transmission Limited (ATL), the largest private transmission company in India and part of the globally diversified Adani Group, on Thursday reported a 40 per cent decline in its consolidated net profit to Rs 277 crore for the December 2021 quarter.
The company had reported a consolidated net profit of Rs 464 crore in the quarter ended December 31, 2020, according to a company release.
Its total income during October-December 2021 rose to Rs 3,085.20 crore, from Rs 2,734.04 crore in the year-ago period.
“In Q3 (third quarter), the consolidated PAT (profit after tax) decline of Rs 187 crore, (-) 40.3 per cent y-o-y decline.
“Q3FY22 PAT (October-December 2021) not comparable y-o-y on account of Rs 62 crore reversal of earlier interim power purchase bill, one-time deferred tax assets creation of Rs 129 crore and forex MTM gain of Rs 40 cr in Q3FY21 (October-December 2020) in (electricity) distribution business,” the company said in a statement.
Anil Sardana, MD and CEO of Adani Transmission, in the statement 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.”
He added that 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.
Financial Highlights – Consolidated (Transmission and Distribution):
| Particular (Rs. crore) | 9MFY22 | 9MFY21 | Change % | Q3FY22 | Q3FY21 | Change % |
| Revenue(1,2) | 7,602 | 6,564 | 15.8% | 2,623 | 2,292 | 14.5% |
| Operational EBITDA(1,2) | 3,433 | 3,196 | 7.4% | 1,168 | 1,125 | 3.8% |
| Total EBITDA | 4,111 | 3,890 | 5.7% | 1,325 | 1,252 | 5.8% |
| PBT | 1,338 | 1,250 | 7.1% | 402 | 472 | -14.9% |
| PAT | 999 | 1,033 | -3.3% | 277 | 464 | -40.3% |
| EPS (Rs.) | 7.14 | 7.36 | -2.9% | 1.85 | 3.08 | -39.9% |
| Cash Profit | 2,276 | 2,290 | -0.6% | 714 | 699 | 2.2% |
Double-digit growth of 15.8% in consolidated revenue in 9MFY22 and 14.5% in Q3FY22
9MFY22 EBITDA of Rs. 4,111 cr grew 5.7% yoy and Q3FY22 EBITDA of Rs. 1,325 cr up 5.8% yoy on account of higher revenue in both transmission and distribution segments
Strong revenue and EBITDA performance translated into higher PBT at Rs. 1,338 Cr, up 7.1%
Consolidated cash profit at Rs. 2,276 cr in 9MFY22. Q3FY22 cash profit of Rs. 714 cr was higher by 2.2% yoy
Segment-wise Financial Highlights:
| Particulars (Rs. crore) | 9MFY22 | 9MFY21 | Change % | Q3FY22 | Q3FY21 | Change % |
| Transmission | ||||||
| Operational Revenue(1,2) | 2,372 | 2,072 | 14.5% | 826 | 704 | 17.3% |
| Operational EBITDA(1,2) | 2,195 | 1,917 | 14.5% | 762 | 650 | 17.2% |
| Margin (%) | 92.5% | 92.5% | – | 92.2% | 92.3% | – |
| Total EBITDA | 2,598 | 2,314 | 12.3% | 814 | 669 | 21.8% |
| Distribution | ||||||
| Revenue | 5,230 | 4,492 | 16.4% | 1,797 | 1,588 | 13.2% |
| Operational EBITDA | 1,239 | 1,279 | -3.1% | 406 | 475 | -14.6% |
| Total EBITDA | 1,513 | 1,576 | -4.0% | 511 | 584 | -12.5% |