Adani Group's power transmission arm Adani Transmission Limited on Monday reported standalone net loss of ₹ 15 crore for the quarter ended September 30, 2016 as against the net loss of ₹ 18 crore in the corresponding quarter last year.
Total standalone income from operations stood at ₹192 crore for the quarter as against ₹ 35 crore last year.
Notably, company's finance costs have significantly shot up from ₹ 40.53 crore in second quarter last year to ₹ 232.26 crore in the quarter under review, thereby putting pressure on the profitability of the company's operations.
For the half year period standalone net loss stood at ₹ 41 crore as against ₹ 42.44 in the corresponding period last year. Total income from operations stood at ₹ 223 crore against ₹ 66 crore last year.
On the consolidated basis, ATL posted net profit of ₹ 99 crore in second quarter, 39 per cent down from ₹ 162 crore in the corresponding quarter last year. Total income from operations stood at ₹ 683 crore for the quarter against ₹ 564 crore in the same period last year.
For the half year period, consolidated net profit stood at ₹ 222 crore against ₹ 193 crore in the same period last year. Total income for the period stood at ₹ 1315 crore against ₹ 1032 crore in the corresponding quarter a year ago.
Speaking on the financial performance of the company Gautam Adani, Chairman Adani Group, said, “While the business continues to perform strongly with the network availability of over 99.40 per cent to 100 per cent, we have continued to achieve 94 per cent of operational EBIDTA margin for the first half of fiscal 2017."
ATL shares stayed positive with marginal gain of close to 1 per cent at ₹ 44 at the close of trading on Monday
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