Adani Transmission Q3 Results: Profit Jumps On One-Time Regulatory Gain, Beats Estimates

Adani Transmission Ltd.’s third quarter net profit jumped on one-time regulatory gain and higher operating margin.  

The consolidated net profit of the transmission and distribution company rose 72.79% year-on-year to Rs 478.1 crore for the quarter ended December, according to its exchange filing. This compares with the Rs 313.7 crore consensus estimate of analysts tracked by Bloomberg.

Adani Transmission Q3 FY23 Highlights (YoY) 

  • Revenue from operations rose 21.9% YoY to Rs 3,551.7-crore as compared to a forecast of Rs 3,497.8 crore.
  • Ebitda, or operating profit, rose 64% YoY to Rs 1,477.5-crore as against an estimate of Rs 1,441.9 crore.
  • Ebitda margin was higher by 107 basis points at 41.6% as against 30.9% a year earlier. 

During Q3 FY23, the company availed additional revenues of Rs 258 crore, after the Appellate Tribunal For Electricity allowed its subsidiary, Maharashtra Eastern Grid Power Transmission Company Ltd., to claim differential rate of interest on borrowings availed in the past.  

Adani Transmission’s growth trajectory remains firm despite the challenging macroeconomic environment,” said Anil Sardana, managing director of Adani Transmission.  

Sardana expects the pipeline of projects and recently operationalised assets to further strengthen the company’s pan-India presence and consolidate its position as the largest private sector transmission and distribution company in India. 

What is your view on Adani Transmission– bullish or bearish?? You can let us know via the comment box at the end of this piece or you can contact the author via Twitter @goldsilverrepor.

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