Adani Transmission stock falls over 3% after Q4 profit jumps 85%

Adani Transmission Q4 Results: Adani Transmission's profit jumped 85.4 per cent year-on-year (YoY) helped by higher volume from Rs 237 crore in the same quarter the previous year.

2 min readNew DelhiMay 30, 2023 10:49 AM IST

In the intraday session, Adani Transmission's stock fell 4.78 per cent to touch a low of Rs 792 on the BSE. (File image)

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Adani Transmission stock falls over 3% after Q4 profit jumps 85%

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Shares of Adani Transmission fell almost 5 per cent on Tuesday after the Adani group company posted an 85.4 per cent rise in its consolidated net profit at Rs 439.60 crore in the January-March quarter.

At the time of writing, Adani Transmission’s stock was trading 3.41 lower at Rs 804 on the BSE. In the intraday session, it fell 4.78 per cent to touch a low of Rs 792 on the BSE.

Adani Transmission’s profit jumped 85.4 per cent year-on-year (YoY) helped by higher volume from Rs 237 crore in the same quarter the previous year.

The firm’s total income increased to Rs 3,494.84 crore in Q4FY23 from Rs 3,165.35 crore in the same quarter a year ago.

“Q4 PAT (profit after tax) in the transmission business grew 11 per cent to Rs 221 crore and distribution PAT at Rs 218 crore grew 478 per cent y-o-y, aided by a mid-term true-up order by the regulator,” Adani Transmission said.

Adani Group chairman Gautam Adani, in a statement, said, “Adani Transmission is well positioned to deliver exponential growth, and we are working towards fulfilling our nation’s massive electricity needs and strengthening our position as a world class utility.”

Adani Transmission is accelerating the transition to a sustainable and reliable grid and ensuring continuous and reliable power supply across all regions through its assets in India, Gautam Adani further said.

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