Adani Transmission rises 5%, hits new high post March quarter results

Shares of Adani Transmission (ATL) rose 5 per cent to Rs 1,187.60, also its new high, on the BSE in intra-day trade on Friday after the company’s consolidated profit after tax jumped over four-fold at Rs 257 crore in March quarter (Q4FY21). The transmission and distribution business arm of the Adani Group had posted profit of Rs 59 crore in the year-ago quarter. The stock surpassed its previous high of Rs 1,147, touched on April 6.

The company’s revenue during the quarter under review grew 3 per cent at Rs 2,276 crore from Rs 2,220 crore. The operational Ebitda (earnings before interest, taxes, depreciation, and amortisation) jumped 18 per cent to Rs 1,034 crore over the previous year quarter. Operating Ebitda margin improved 600 basis points (bps) to 45.43 per cent from 39.41 per cent.