Adani Transmission advanced 2.24% to Rs 2557 after the company said that it has incorporated a wholly owned subsidiary, BEST Smart Metering (BSML), on 27 December, 2022, with an initial authorized and paid-up share capital of Rs 1 lakh each.
The power transmission company said that it incorporated BSML for smart metering business.
BSML is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 27 December 2022 and is yet to commence its business operations, 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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