Adani Transmission Ltd. reported a modest rise in revenue and profit during the quarter ended September, as gains in trading business offset the decline in revenue from generation, transmission and distribution verticals.
The power transmission arm of Adani Enterprises Ltd. reported a sequential rise of 4% in consolidated revenue at Rs 3,251 crore, according to an exchange filing. This was lower compared to a Bloomberg estimate of Rs 3,671.2 crore.
Net profit increased 11% during the second quarter to Rs 206.2 crore, exceeding estimates of Rs 182.4 crore.
Revenue from trading business saw 164% growth at Rs 219.4 crore during the quarter under review.
Adani Transmission Q2 FY23 Highlights (Consolidated QoQ):
Ebitda rose 73% at Rs 1,163.6 crore compared to Rs 673.3 crore in the previous quarter.
Ebitda margin is at 36% versus 22% in the previous quarter.
Ahead of the results, shares of Adani Transmission closed at Rs 3,308.5, down 0.87%, compared to a 0.35% fall in the benchmark Sensex.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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