On Wednesday, Adani Transmission shares rose 2% as the company declared in its Q1 business update that it protected three smart metering projects during the quarter.

The firm received a letter of award for 3 smart metering projects in Andhra Pradesh totalling 2.7 million smart meters with an agreement value of Rs 3700 crore during the quarter. It added that the near-term communication and smart metering pipeline remains strong and fully geared to contribute to the upcoming tenders.

Governments globally are participating in smart grids and meters to improve power networks. With advancements in software, cloud computing, and the Internet of Things (IoT), the smart metering segment is composed for significant growth in the future.

At 9:19 am, shares traded 1.3% higher at Rs 793.4 on the BSE.
Distribution loss is improving reliably and stands at 4.85% in Q1FY24 against 6.95% in Q1FY23. The company said the loss was lower than usual due to periodic factors.

Transmission and distribution losses occur when electricity is produced but does not reach clients due to energy indulgence in the equipment used for transmitting and distributing power.

Further, Adani Transmission described an addition of 550 circuit kilometres to its operative network in Q1FY24. The total network at June end stood at 19,778 circuit kilometres.