From safety measures for installations to activating new helplines - Adani Electricity Mumbai preps for monsoon freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Under the first-of-its-kind initiative in the country, its consumers opting for the green tariff structure will receive green power certificate on a monthly basis with a separate green colour bill indicating separate line item — Green Power Tariff , according to a statement.
Moody s affirms Adani Electricity s Baa3 rating ANI | Updated: May 11, 2021 13:05 IST
But the outlook remains negative. AEML owns and operates an integrated utility business in Mumbai which is regulated by Maharashtra Economic Regulatory Commission (MERC).
The servicing of the rated USD bond is supported by an obligor group that includes AEML and Power Distribution Service Ltd (PDSL), a majority owned subsidiary of Adani Transmission Ltd set up primarily to provide asset management services to AEML. The negative outlook continues to reflect the potential for downgrade if India s sovereign rating is downgraded, given AEML s domestic focused business, says Spencer Ng, Moody s Vice President and Senior Analyst.
Moody s Investors Service on Friday affirmed an investment grade rating of Baa3 with negative outlook on senior secured bonds of Adani Transmission Ltd (ATL). According to Moody s global rating scale, obligations rated Baa are subject to moderate credit risk. They are considered medium-grade and as such may possess speculative characteristics. Thus, Baa3 is an investment grade rating and a negative outlook indicates downward pressure on the issuer. Moody s Investors Service has affirmed the Baa3 senior secured bond ratings of ATL. The outlook remains negative, a Moody s statement said. According to the statement, the servicing of ATL s bonds is supported by an obligor group that includes ATL and two of its fully owned subsidiaries Maharashtra Eastern Grid Power Transmission Company and Adani Transmission (India) Ltd which operate four transmission lines of more than 5,000 circuit kilometers.
Adani Transmission Limited, India’s largest electricity transmission company in the private sector, today announced a cash profit of Rs 2,929 crore in the fiscal 2021, up 45 per cent year-on-year, and a profit after tax of Rs 1,290 crore, up 82 per cent. For the fourth quarter, the company’s cash profit was Rs 639 crore, a rise of 51 per cent and PAT was up 333 per cent YoY to Rs 257 crore. The company’s revenue for the fiscal 2021 was, however, down by 14 per cent to Rs 8,840 crore on a consolidated basis. This was mainly due to lower revenue contribution from distribution business which was impacted by lower electricity consumption in the commercial and industrial segment in the first half of FY21, when India announced a nationwide lockdown to control Covid-19 pandemic.