Adani Group Company Reports 85% Rise In Net Profit For Q4 FY23

Adani Transmission Ltd (ATL) increased its consolidated net profit by 85.48 percent to Rs 439.60 crore in the March FY23 quarter, owing to greater income.

The company reported a net profit of Rs 237 crore in the January-March quarter of the prior 2021-22 fiscal year (FY) in a regulatory filing on Monday.

The company's total income climbed to Rs 3,494.84 crore from Rs 3,165.35 crore in the previous quarter.

The net profit for FY23 increased to Rs 1,280.60 crore from Rs 1,235.75 crore in FY22.

The fiscal year's total income was Rs 13,840.46 crore, an increase from Rs 11,861.47 crore in FY22.

Transmission EBITDA (earnings before interest, tax, depreciation, and amortisation) increased by 9% to Rs 872 crore during the quarter, while distribution EBITDA increased by 43% to Rs 834 crore.

ATL is the largest private transmission firm in the country, having a presence in 14 states and a total transmission network of 19,779 km, of which 15,371 km are operating and 4,408 km are under construction.

Adani Transmission's share price declined more than 3% on Tuesday after the company's Q4FY23 earnings report. Adani Transmission shares began trading on the BSE at $832.35 per share, the same as the previous close. Its 52-week low is Rs. 630.00 per share and its 52-week high is Rs. 4,238.55 per share.