The firm’s revenue for fiscal 2021 was down 14% to Rs 8,840 cr on a consolidated basis
BS Reporter |
Last Updated at May 6, 2021 18:32 IST
Adani Transmission Limited, India’s largest electricity transmission company in the private sector, today announced a cash profit of Rs 2,929 crore in the fiscal 2021, up 45 per cent year-on-year, and a profit after tax of Rs 1,290 crore, up 82 per cent.
For the fourth quarter, the company’s cash profit was Rs 639 crore, a rise of 51 per cent and PAT was up 333 per cent YoY to Rs 257 crore. The company’s revenue for the fiscal 2021 was, however, down by 14 per cent to Rs 8,840 crore on a consolidated basis. This was mainly due to lower revenue contribution from distribution business which was impacted by lower electricity consumption in the commercial and industrial segment in the first half of FY21, when India announced a nationwide lockdown to control Covid-19 pandemic.
However, operational revenue from transmission business was unaffected in FY21. For the March quarter, its revenues were up 3 per cent at Rs 2,276 crore.
In a statement, the company said it has added 2,536 ckt (circuit) km to transmission network in FY21, thanks to its acquisitions and expansion, taking the total network to 17,276 ckt km. The firm also reported strong transmission system availability at more than 99.87 per cent.
Its distribution business ensured more than 99.99 per cent supply reliability despite challenges on ground while distribution losses were at 7.82 per cent vs 7.37 per cent in FY20. The company also achieved more than 100 per cent collection efficiency at AEML (Adani Electricity Mumbai Ltd) in FY21.
“The power and transmission sector has seen tremendous progress over the last two decades. Today, Government initiatives such as Saubhagya and the emphasis on renewables have significantly expanded electricity access. The next two decades promises to usher in new opportunities for the sector based on the resurgence of the economy post the pandemic and a positive investor outlook. ATL is fully equipped to co-create a future in line with the needs of a nation at the cusp of global renewable energy leadership”, said Gautam Adani, Chairman Adani Group.
Anil Sardana, MD & CEO, Adani Transmission Ltd, said Adani Transmission has evolved over the past few years and its two acquisitions (APTL and WKTL) during the year will bolster its pan-India presence, consolidating further its position as India’s largest private sector transmission company and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022.
“ATL is constantly benchmarking to be the best-in-class and is pursuing a focused approach to be a world-class integrated utility through development agenda, coupled with derisking of strategic and operational aspects, capital conservation, ensuring high credit quality and forging strategic partnerships for business excellence and high governance standards,” he said.
Sardana added that ATL is maintaining 24×7 quality power supply despite challenges posed by health and pandemic issues. The journey towards a robust ESG framework and practicing culture of safety is integral to its pursuit for enhanced long-term value creation for all stakeholders.
During the year, ATL acquired Warora-Kurnool Transmission Limited (WKTL) owned by Essel InfraProjects Limited adding 1,750 ckt kms to its total transmission network of 17,276 ckt (circuit) km.
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