Adani Group's power transmission arm, Adani Transmission Ltd, on Thursday informed that the board of directors has approved the company's fund raising plans of up to Rs 8,500 crore through a variety of instruments.
At the meeting held on Thursday, the board gave its approval for raising funds by issue of equity shares or convertible bonds through qualified institutional placement/GDR/ADR/ FCCBs/ FCEBs/ Convertible Securities, which will further be approved by the shareholders at the Annual General Meeting of the company.
Adani Transmission has reported a standalone net loss of Rs 1.43 crore for the quarter ended March 2016 against a net loss of Rs 24.10 crore in the same quarter last year. Total income from operations stood at Rs 158 crore against Rs 11.45 crore in the same period last year.
For the financial year 2015-16, ATL posted a net loss of Rs 53.66 crore against a net loss of Rs 17.94 crore last year, while total income increased to Rs 274.45 crore from Rs 22.92 crore.
On a consolidated basis, the company has reported a net profit of Rs 95.28 crore for the quarter ended March 2016, against a net loss of 12.92 crore. Tota consolidated income stood at Rs 638.12 crore (Rs 123.88 crore).
Consolidated net profit stood at Rs 358 crore for the year 2015-16 against a net loss of Rs 6.75 crore last year. Total consolidated income for the year stood at Rs 2,197 crore against Rs 135 crore last year.
Adani Transmission shares gained over 1.3 per cent to trade at Rs 30.35 on the National Stock Exchange (NSE) on Thursday.