Today Adani Transmission Ltd (ATL) posted double bounce in combined Profit after Tax (PAT) at Rs 169.34 crore for June quarter on the back of higher incomes. ATL said in a BSE filing, the organization’s PAT in April-June 2017-18 remained at Rs 84.10 crore.
It said that the other extensive incomes amid the quarter incorporate MTM pick up of Rs 57.50 crore by the virtue of reasonable valuation hedging of USD security and ECB, according to pertinent Ind-As rule. The organization got Rs 543 crore transmission charges in the detailed quarter which were 12 percent higher than Rs 486 crore got in the year-back period.
The organization has additionally got the approval of Maharashtra Electricity Regulatory Commission (MERC) for procurement of R-Infra’s Integrated Business of age, transmission, conveyance (GTB) and retail of intensity for Mumbai City.
With finishing of every ongoing project and securing of Reliance Infrastructure Integrated Business for Mumbai, add up to a network of ATL will be around 12,480 ckt kms.
Before the end of the year 2018, ATL will have 35 substations with 19,300 MVA of transformation limited the nation over. With the finish of GTD Business securing from R Infra, ATL will appreciate the advantage of scale and be a coordinated circulation and transmission business in India.
Adani Group Chairman, Gautam Adani, said, “With our continuous attention on development, advancement, and improvement of most recent advances, we hope to develop our transmission and distribution connect with most elevated capacities the nation over. The acquisition denotes ATL’s raid in the dispersion area in India and the organization considers it to be the following sunrise part as India sets out on a mission to accomplish 24×7 powers for all.”
ATL is the transmission business arm of the Adani Group. Amid the year, the organization hopes to accomplish Commercial Operation Date (COD) of other five undertakings under development, as per the report from India Times.
ATL Shares are settled at Rs 176.75 per scrip, 3.30 percent up on BSE.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]