Adani Transmission reports strong Q2 performance with PAT up 82 pct at Rs 230 crore

Source :ANI
Author :ANI
Last Updated: Fri, Nov 8th, 2019, 18:14:54hrs
Adani Transmission reports strong Q2 performance with PAT up 82 pct at Rs 230 crore
Ahmedabad (Gujarat): Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, on Thursday consolidated profit after tax of Rs 230 crore for Q2 FY20, up 82 per cent against Rs 89.5 crore year-on-year.

Consolidated operational EBITDA (earnings before interest, tax, depreciation and amortisation) was Rs 1,082 crore, up 63 per cent.

The transmission business saw operational EBITDA of Rs 623 crore, up 23 per cent with a margin of 92 per cent while distribution business reported operational EBITDA of Rs 459 crore, up 190 per cent.

"With the government's accelerated efforts towards scaling infrastructure and improving electrification in rural areas, Adani Transmission is poised to support this growth," said Adani Group Chairman Gautam Adani. "We will continue to explore opportunities for growth by leveraging our strong transmission network," he said in a statement.

During the period under review, the company received a letter of intent to build, own, operate and maintain the transmission project in Gujarat through tariff based competitive bidding process. The project Lakadia Banaskantha Transco Ltd is 360 circuit km at level of 765 kilovolt at Lakadia and Banaskantha substations.

Besides, Adani Transmission received a letter of intent for the project Jam Khambaliya Transco Ltd which is a 40 circuit km of 400 kilovolt direct current line along with 400 kilovolt substation.

With the completion of the ongoing projects, the company's total network will be 14,738 circuit km.