The power transmission company on Friday announced that it has incorporated a wholly owned subsidiary, Adani Electricity Nashik (AENL), on 16 March 2023, with an authorized and paid-up share capital of Rs 1 lakh each.
Adani Transmission said that it incorporated AENL for applying parallel distribution license in Nashik area.
AENL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 16 March 2023 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 18,795 ckm, out of which 15,371 ckm are operational and 3,424 ckm are at various stages of construction.
The company's consolidated net profit surged 72.8% to Rs 478 crore on 15.8% rise in revenue to Rs 3,037 crore in Q3 FY23 over Q3 FY22.
Shares of Adani Transmission slipped 2.30% to Rs 1,001.30 on the BSE.
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