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Adani Power Incorporates Wholly-Owned Subsidiary

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Adani Power Incorporates Wholly-Owned Subsidiary
New Delhi: Adani Power Ltd on Monday announced that it has incorporated a wholly-owned subsidiary firm - Adani Power (Jharkhand) Ltd.

"Adani Power Limited (APL) has incorporated a wholly owned subsidiary company Adani Power (Jharkhand) Ltd (APJL) in India, which is registered with the Registrar of Companies, Gujarat, in Ahmedabad on December 18, 2015," the company said in a filing to the BSE.

The company further said APJL, which is yet to commence its business operations, is "incorporated as a wholly-owned subsidiary of the company for its business purpose".

Adani Power is into generation, distribution and supply of power, among others.

Last month, it reported that its consolidated net loss for the September quarter narrowed to Rs 369.08 crore helped by higher sale of electricity.

The net loss after taxes and minority interest stood at Rs 369.08 crore for the said quarter compared with Rs 798.71 crore a year earlier, Adani Power informed the BSE.

At 3:07 p.m., shares in Adani Power were trading 8.36 per cent higher at Rs 30.45 apiece on the BSE, whose benchmark Sensex index was up 0.9 per cent.

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