Adani Transmission PAT of Rs 289 cr in Q2FY22, up 35% YoY

Sarkaritel
By Sarkaritel October 29, 2021 21:59

Adani Transmission PAT of Rs 289 cr in Q2FY22, up 35% YoY


New Delhi, Oct 29 (IANS) Adani Transmission Ltd (ATL), the largest private transmission company in India and part of the globally diversified Adani Group, on Friday announced its financial and operational performance for the quarter ended September 30, 2021.

The company recorded a double-digit growth in consolidated revenue on account of strong growth in both transmission and distribution segments.

Strong revenue and EBITDA trends translating into PAT increase of 34.9 per cent YoY and 26.8 per cent YoY on quarterly and semi-annual basis, the company said.

The growth in transmission business was supported by incremental contribution from newly operational lines and recently-acquired Alipurduar asset.

Distribution business revenue growth was driven by higher energy sales and better collection efficiency. The growth opportunity in transmission and distribution business continues to be very promising, the company said.

Distribution loss remains low at 7.64 per cent in Q2FY22; the distribution loss of 3.19 per cent in Q2FY21 is not comparable YoY as meter readings, as per guidelines, was paused in Q1FY21 and resumed in Q2FY21.

ATL has expressed its alignment with SBTi. In order to advance on its alignment, the company has joined CDP’s “Science Based Targets initiative Incubator Project” (SBTiIP). ATL has already rolled-out several initiatives towards its ESG strategy including its role in global climate action.

In a first-of-its-kind initiative in the country, ATL’s distribution arm in Mumbai has rolled out green power and tariff option to consumers for reduction in carbon footprint. The consumers opting for the green tariff structure receive a Green Power Certificate every month.

ATL has become Signatory to the UN Energy Compact to further the SDG 7 (Affordable and Clean Energy). ATL’s Energy Compact is accepted by the United Nations and will be showcased at the COP 26 meeting in the UK’s Glasgow.

The submission of the Energy Compact highlights ATL’s aspiration and ambition to contribute in clean energy transition to meet the Paris accord as well as ATL’s commitment to meet the 2030 agenda of Sustainable Development Goals. Since affordable, clean energy is a prerequisite for achieving all other SDGs and the Paris Agreement, ATL has committed to and joined this Energy Compact initiated by the United Nations.

At present, both the Audit Committee and the Nomination and Remuneration Committee at ATL comprise 100 per cent Independent Directors.

Anil Sardana, MD & CEO, Adani Transmission Ltd said: “Adani Transmission is constantly evolving and becoming a significant player. ATL’s robust growth pipeline and recent acquisitions will further strengthen its pan-India presence and consolidate its position as the largest private sector transmission company in India. This will help the company move closer to its goal of 20,000 ckm of transmission lines by 2022. ATL is consistently benchmarking to be the best-in-class utility and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality and business excellence with high governance standards. The journey towards a robust ESG framework and practicing a culture of safety is integral to its pursuit of enhanced long term value creation for all stakeholders.”

Sarkaritel
By Sarkaritel October 29, 2021 21:59