New Delhi. A good news has emerged for the troubled Gautam Adani Group after the US company number report surfaced. Adani Transmission, a company of Adani Group, has released its December quarter (Q3FY23) results. The company has reported a net profit of ₹474.7 crore in Q3FY23 (October to December). This is up 77.8% from ₹267 crore a year ago. The shares of the company are continuously in the lower circuit. Even on Monday, the stock fell 10% to close at 1,256.45. At the same time, since the release of the Hindenburg report, shares of Adani Transmission have registered a decline of about 55% in 9 trading days so far.
Let us tell you that the EBITDA saw a strong growth of 64% in Q3FY23 to Rs 1,477.5 crore as compared to Rs 900.9 crore in the third quarter of the previous fiscal. Margins expanded to 41.6% in Q3FY23, as against 30.9% in Q3FY22. Meanwhile, the company has generated revenue of Rs 3,277.03 crore in Q3FY23 from generation, transmission and distribution business. This is higher than Rs 2,613.35 crore in the third quarter of the last financial year.
Significantly, 5 brokerages said together – Price will cross ₹ 400, buy revenue increased by 22% At the same time, the revenue in trading business was ₹ 274.67 crore in Q3FY23, while in Q3FY22 it was ₹ 298.35 crore. Overall, revenue grew by 22% to ₹3,551.7 crore in Q3FY23 from ₹2,911.7 crore in the corresponding period last year. Anil Sardana, MD, Adani Transmission Limited said, “The private sector transmission and distribution company in India is on a constant growth trajectory. It is also a major player in the T&D sector. The company continues to grow despite a challenging business and economic environment. Our pipeline of projects and recently commissioned assets will serve to further strengthen our presence.”