NEW DELHI: Shares of Adani Transmission lost 4.3 per cent in early trade Friday as the discom player reported a decline of 7.6 per cent in its consolidated net profit to Rs 237 crore in the March quarter.
The consolidated net profit of the company was Rs 256.55 crore in the quarter ended on March 2021.
Adani Transmission’s scrip fell to a low of Rs 2,682 as against Rs 2,802.35 at previous close on the BSE. The stock was last trading 2 per cent lower.
Total income rose to Rs 3,165.35 crore in the quarter from Rs 2,875.60 crore in the year-ago period, reports said.
According to the company, the decline in profit was on account of net forex movement (mark to market) of Rs 82 crore in distribution business, reports said.
According to reports, the company’s sales declined 26.20 per cent to Rs 332.37 crore in the quarter ended March 2022 as against Rs 450.39 crore during the previous quarter ended March 2021.
For the full year, Adani Transmission’s net loss was at Rs 64.61 crore in the year as against net loss of Rs 21.21 crore during the previous year ended March 2021, reports said.
Sales declined 2.04 per cent to Rs 739.81 crore in the year ended March 2022 as against Rs 755.23 crore during the previous year ended March 2021.
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