Adani Transmission Q2 net profit falls 33% to Rs. 67 crore

Adani Transmission Q2 net profit falls 33% to Rs. 67 crore
31/10/2017 , by , in ALLIED

Adani Transmission said its consolidated net profit after tax fell by 33% to Rs. 66.69 crore in the second quarter ended on September. Its consolidated net profit after tax was Rs. 99.54 crore for the quarter ended on 30 September 2016, Adani Transmission Ltd said in a BSE filing.

“Comparable Consolidated PAT remains steady at Rs 67 crore in Q2FY18 compared to Rs 66 crore in Q2FY17 (excluding one-time deferred tax reversal adjustment of Rs 34 cr),” the company said in a statement.

Total comprehensive income for the quarter was down at Rs. 9.43 crore as against Rs. 32.41 crore in the year-ago period, the filing said. Revenue from operations rose to Rs. 752.86 crore compared with Rs. 688.44 crore in the year-ago quarter.

The company also said it has entered into a period of exclusivity with Reliance Infrastructure (RInfra) until 15 January 2018 in relation to discussions for the proposed acquisition of the integrated business of generation, transmission and distribution of power for Mumbai from RInfra.

Commenting on the results Adani Group chairman Gautam Adani said, “Adani Transmission continues to pursue the organic as well as inorganic growth opportunities. We have a strong & seamless integration of processes, people & technology which has laid a strong foundation for us to create the value for our stakeholders.”

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