After the Hindenburg report, there was a tremendous decline in the shares of Adani Group companies. In January 2023, after Hindenburg’s disclosure, there was a significant decline in the shares of group companies. Due to this decline which lasted for more than a month, the market cap of Adani Group was reduced by Rs 12 lakh crore. But Adani Transmission (ATL) of Adani Group has made tremendous profits in the quarter ending March 2023. The effect of the profit made to the company can also be seen on the stock.
Let us tell you that the net profit of Adani Transmission Limited (ATL) increased by 85.48 percent to Rs 439.60 crore during the March quarter of 2022-23. In the information given by the company to the stock market, it was told that the company had earned a net profit of Rs 237 crore during the January-March quarter of 2021-22. The total income of the company increased from Rs 3,165.35 crore to Rs 3,494.84 crore on an annual basis during the period under review.
ATL’s net profit increased to Rs 1,280.60 crore for the financial year 2022-23. It was Rs 1,235.75 crore in the previous financial year. The total income during this period was Rs 13,840.46 crore, which was Rs 11,861.47 crore in 2021-22. In another statement, Adani Group Chairman Gautam Adani said, “We are a leader in the transmission and distribution sector. The company has consistently set new benchmarks in efficiency, performance and asset growth. Adani Transmission is well positioned for rapid growth.
