ATL reports cash profit of Rs 1,591 crore up 51 per cent YoY in H1; Rs 676 cr, up 30 per cent YoY in Q2
Nov 05, 2020
Ahmedabad (Gujarat) [India], November 5 : Adani Transmission Limited, a part of the Adani Group, posted cash profit of Rs 676 crore for the July-September quarter of 2020-21, up by 30 per cent year-on-year (YoY), a company statement said here on Thursday.
It also declared cash profit of Rs 1,591 crore, up 51 per cent on a YoY basis, for the first half of Financial Year (FY) 2020-21.
Speaking on the company's performance Gautam Adani, Chairman, Adani Group, said, "There is abundant potential for increased growth in India's transmission sector in the coming years. We are spearheading our energies and efforts towards providing reliable power supply across the nation. With the government's core objective of 24x7 Power for all, considering anticipated growth and demand for power in major parts of the country, Adani Transmission Ltd is committed to deliver continuous growth and is helping in strengthening the transmission network across the nation."
"We are well-positioned to fulfil India's electricity needs and look forward to delivering long-term sustainable value through our efficient management of electricity networks. Our increasingly sustainable practices will help ensure ESG driven goals, one that will benefit not only key stakeholders but entire nation," he added.
Meanwhile, the operational Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for Q2 FY21 was at Rs 1,001 crore, while the EBITDA for the H1 of the ongoing year is at Rs 2,071 crore.
Meanwhile, the Profit Before Tax (PBT) for Q2 FY21 is at Rs 296 crore, resulting in Profit After Tax (PAT) of Rs 214 crore.
The PBT for H1 FY21 is Rs 778 crore, resulting in PAT of Rs 570 crore in the first half of the year.
Further speaking on it Anil Sardana, MD & CEO, Adani Transmission Ltd, said, "Adani Transmission has evolved over the past few years. ATL is constantly benchmarking to be the best-in-class and is pursuing focused approachto be world-class integrated utility through development agenda coupled with de-risking of strategic and operational aspects, capital conservation, ensuring high credit quality and forging strategic partnerships for business excellence and high governance standards."
