Adani Transmission posts 22 percent rise in June qtr, Stock Rise today

Adani Transmission posted 22 percent rise in its consolidated net profit at Rs 433.24 crore in the June quarter this year, mostly led by higher revenues. The consolidated net profit of the company was at Rs 355.40 crore in the quarter ended on June 30, 2020, the company said in a regulatory filing. Total income rose to Rs 2,935.72 crore in the quarter under review, from Rs 2,542.84 crore in the same period last year.

Reacting to the development, shares of Adani Transmission went up high at Rs 947.00   per share, higher by Rs. 14.80, or 1.6 percent on the National Stock Exchange on Thursday.

Adani Transmission In the first quarter of this fiscal, operationalized 207 km (circuit km) in the Obra line with a total network at 18,801 ckm. Distribution losses were at 6.88 percent in the quarter, compared to 13.47 percent in the year-ago period. The units sold increased by 18 percent to 2,036 units, on account of rising in power demand.

Commenting on the development, Anil Sardana, MD & CEO, Adani Transmission Ltd said, Adani Transmission’s recent acquisitions  and robust under construction pipeline will further bolster its Pan-India presence, consolidating further its position as the largest private-sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022.''

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