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Hot Pursuit
14-Dec-22
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Adani Transmission rises on incorporating wholly owned subsidiary
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Adani Transmission gained 1.19% to Rs 2680.95 after the company said that it has incorporated a wholly owned subsidiary, Adani Cooling Solutions (ACSL), on 12 December, 2022, with an initial authorized and paid-up share capital of Rs 1 lakh each.
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ACSL was incorporated for the purpose of carrying on district cooling system business. It will commence its business operations in due course, said the company.
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 approximately 18,795 ckm, out of which approximately 15,003 ckm is operational and approximately 3,792 ckm is at various stages of construction.
The company's net profit tumbled 32.67% to Rs 194.47 crore despite of 22.3% jump in revenue from operations to Rs 3032.07 crore in Q2 FY23 over Q2 FY22.
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