Adani Transmission Ltd has seen a 13 percent jump in the number of electricity units sold during the second quarter that ended in September 2022 (Q2 FY23), according to the provisional operational updates for the same period released by the company on Monday, October 17.
Following the announcement, shares of Adani Transmission jumped as much as 3.6 percent on Tuesday to Rs 3,183.35.
In its operational update, Adani Transmission said that its distribution utility, Adani Electricity Mumbai Ltd (AEML), sold 2,233 million units in the second quarter of the current fiscal year compared to 1,975 million units last year on account of an uptick in energy demand.
Distribution loss also improved and stood at 6 percent in the September quarter compared to 7.64 percent in the year-ago quarter.
AEML also maintained supply reliability (Average Service Availability Index, or ASAI) of more than 99.9 percent, said Adani Transmission.
E-payments of electricity bills continued to see an uptick driven by the digital adoption push. The company said that E-payments as a percentage of total collection jumped to 74.9 percent in the second quarter compared to 68.5 percent last year.
Meanwhile, for its transmission business, Adani Transmission said that the company operated transmission lines upwards of 99.76 percent.
Adani Transmission added 352 ckms (circuit kilometers) in the second quarter to its operational network with its total network at 18,795 ckms and transformation capacity at 40,001 MVA (megavolt-amperes).
Adani Transmission also said that the Lakadia Banaskantha (LBTL) project became fully operational during the quarter.
The company also recently announced its commitment to become Net Zero by 2050 and aims to keep global warming at 1.5°C above pre-industrial levels through measurable actions.
(Edited by : Rukmani Krishna)
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