Editor’s Synopsis
- 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.)
- Consistent operational Network availability ranging from 99.77% to 100%;
- Operational EBIDTA margin of Transmission business is steady at 92% in H1FY18.
- Entered into a period of Exclusivity with Reliance Infrastructure Limited (RInfra) until 15th January, 2018 in relation to discussions for the proposed acquisition of the integrated business of generation, transmission and distribution of power for Mumbai City from RInfra.
Ahmedabad, October 28, 2017: Adani Transmission Ltd, part of the Adani Group, today reported its results for the quarter ended and half year ended 30th Sep, 2017.
Financial Highlights:
(Clarification note: All Figures are in accordance with the applicable Ind-AS)
- The overall Financial Performance was good.
- The Tariff and Incentive Income for First Half of FY18 is Rs. 973 crores Vs Rs. 962 crores of First Half of FY17.
- Consolidated operational EBIDTA of Rs. 891 Cr. at 92% margin of transmission business in first Half of FY18.
- The Operational EBIDTA for Q2 of FY18 is Rs. 442 crores.
- Other comprehensive income includes MTM loss of Rs. 103.52 Crore for the First Half FY18 on account of fair valuation of hedging of $ bond and ECB as per applicable Ind-As guideline
ATL entered into a period of Exclusivity with Reliance Infrastructure Limited (RInfra) until January 15, 2018 in relation to discussions for the proposed acquisition of the integrated business of generation, transmission, distribution and retail of power for Mumbai City from RInfra, subject to confirmatory diligence, definitive documentation and customary approvals. The proposed transaction will strengthen Adani Transmission’s footprint in the power transmission sector and also mark its foray into the distribution space.
With completion of all ongoing projects and acquisition of Reliance Infra’s operational Transmission Assets, total network of ATL will be around 11350 ckt kms divided into 5,450 ckt kms operational assets, appx. 2350 Ckt kms under construction assets and 3521 ckt kms under acquisition assets, 28 substations and more than 16,200 MVA of transformer capacity across the country. Adani Transmission Limited will remain the largest private sector transmission company in the country.
ATL is the first transmission company to release its Sustainability Report prepared as per GRI-G4 guidelines (comprehensive – in accordance option).
Speaking on the financial performance of the company Mr Gautam Adani, Chairman Adani Group, 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.”
