Adani Transmission Ltd (ATL) on Monday reported a 78 per cent rise in consolidated net profit for the third quarter ended December 31, 2022, following a one-time gain even as its topline rose 16 per cent.
ATL posted a net profit of Rs 474.72 crore compared with Rs 267.03 crore in the corresponding period of the previous year. Analysts had estimated a profit of Rs 313.7 crore.
The company said in its notes to accounts that during the quarter, the Appellate Tribunal for Electricity passed its judgment in favour of MEGPTCL, a step-down subsidiary, where it upheld among others, ``claim in respect of differential rate of interest on borrowings availed by it’’, and consequently during the quarter, the group received additional revenue of Rs 258.34 crore.
During the quarter, ATL’s revenues rose to Rs 3,037 crore against Rs 2,623 crore in the same period of the previous year.
The company said this was on account of new transmission lines becoming operational and a positive trend in energy demand.
Adani Transmission has a presence across 13 states and a cumulative transmission network of 18,795 ckm (circuit kilometers), of which 15,371ckm are operational.
