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Hot Pursuit
20-Jul-23
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Genus Power Infra sizzles on incorporating WOS in Rajasthan
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Genus Power Infrastructures jumped 4.21% to Rs 190.55 after the company incorporated a wholly owned subsidiary step down subsidiary “Genus Chhattisgarh PKG-1 SPV Private Limited” in Rajasthan.
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Genus Chhattisgarh PKG 1 SPV is a private limited company. Its main object is to manufacture of consumption meters for electricity, water or gas, flow meters and counting meters.
The company incorporated the subsidiary as special purpose vehicle (SPV) for execution of Advanced Metering Infrastructure Service Provider (AMISP) Contract by subscribing to its entire share capital at Rs 1 Lakh.
Genus Power Infrastructures is engaged in the manufacture and distribution of electronic energy meters, power distribution management projects, hybrid microcircuits, inverters, batteries, home UPS and online UPS in India and abroad.
The company reported consolidated net loss of Rs 11.29 crore in Q4 FY23 as compared with net profit of Rs 21.36 crore in Q4 FY22. Net sales jumped 11.8% year on year to Rs 202.32 crore in Q4 FY23.
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