Adani Transmission ltd (ATl) on Tuesday posted over two-fold jump in consolidated Profit After Tax (PAT) at Rs 169.34 crore for June quarter on the back of higher revenues. The company’s PAT in April-June 2017-18 stood at Rs 84.10 crore, ATl said in a BSE filing.
The company received Rs 543 crore transmission charges in the reported quarter which were 12 per cent higher than Rs 486 crore received in the year-ago period.
It said the other comprehensive income during the quarter includes MTM (mark-to-market) gain of Rs 57.50 crore on account of fair valuation of hedging of USD bond and ECB (external commercial borrowings) as per applicable Ind-As guideline. The company received a loI (letter of intent) from REC Transmission Project Company to construct, own, operate and maintain the transmission project in Uttar Pradesh through tariff-based competitive bidding process. The project Ghatampur Transmission ltd has approximately 900 ckt kms of line at voltage level of 765 KV.
The company has also received approval of Maharashtra Electricity Regulatory Commission (MERC) for acquisition of R-Infra’s Integrated Business of generation, transmission, distribution (GTB ) and retail of power for Mumbai City.
With completion of all ongoing projects and acquisition of Reliance Infrastructure’s Integrated Business for Mumbai, total network of ATl will be around 12,480 ckt kms. By the end of 2018, ATl will have 35 substations with 19,300 MVA of transformation capacity across the country. It will continue to be the largest private sector transmission company in the country, it added.