The increase in the net profit was primarily driven by one-time income of Rs 148 crore (net off tax Rs 122 crore) from regulatory order in the Transmission business (a net positive impact of Rs 21 crore after adjusting for a provision of Rs 131 crore (net off tax Rs 101 crore)) and aided by a mid-term true-up order by the regulator in AEML.

The company said that the revenue in Q4 FY23 witnessed double-digit growth on account of new transmission lines becoming operational and an uptick in energy consumption.

On the segmental front, the operational revenue of the Transmission business was at Rs 920 crore (up 9% YoY) and the revenue from the Distribution business (AEML) stood at Rs 2,111 crore (up 22% YoY).

Transmission business revenue growth in Q4 was driven by newly commissioned lines, and Distribution revenue increased on account of a consistent uptick in energy demand.

Total EBITDA grew by 23% to Rs 1,706 crore in Q4 FY23 from Rs 1,382 crore recorded in the same period a year ago.

Profit before tax in Q4 FY23 was at Rs 659.62 crore, registering a growth of 82.1% on YoY basis.

Consolidated cash profit stood at Rs 977 crore in Q4 FY23, up by 28% YoY. Adani Transmission operationalized 609 ckm in Q4 FY23 and maintained system availability at 99.68%.

Energy demand (units sold) improved by 11.5% YoY in Q4 FY23, driven by a rise in commercial segment and industrial segment demand.

Distribution losses in Q4 were at 4.89%, and collection efficiency remained above 100%.

AEML continues to provide its customers with a unique proposition of competitive tariffs and renewable energy, with solar and wind accounting for 30% of their energy mix.

For the full year, the company's consolidated net profit rose 4% to Rs 1,281 crore on 19% jump in revenue to Rs 12,149 crore in FY23 over FY22.

Anil Sardana, MD, Adani Transmission, said, "ATL is constantly evolving and is already a significant player in the T&D sector. ATL's growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India. ATL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards.”

Menwhile, the company's board has approved the re-appointment of Anil Sardana as a managing director of the company for a period of five years, effective from 10 May 2023, subject to approval of the shareholders.

Further, the board has also approved to change the name of the company from “Adani Transmission” to “Adani Energy Solutions”, subject to approval of shareholders, Ministry of Corporate Affairs (MCA) and such other applicable statutory / regulatory authorities.

Adani Transmission (ATL) is the transmission and distribution business arm of the Adani Group. ATL is the country's largest private transmission company with a cumulative transmission network of 19,779 ckm, out of which 15,371 ckm are operational and 4,408 ckm are at various stages of construction.

Shares of Adani Transmission slipped 2.32% to Rs 813.05 on the BSE.