Adani Enterprises announced that its step-down subsidiary, Adani Global Pte (AGPTE), Singapore has incorporated a wholly owned subsidiary named, Adani Energy Resources (Shanghai) Co. (AERCL), domiciled in Shanghai, China on 2 September 2024.
AERCL has been incorporated and registered under the company law of the People's Republic of China on 2 September 2024.The new entity is set up to provide supply chain solutions and project management services. AERCL has not yet commenced its business operations.
Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.
The companys consolidated net profit zoomed 115.82% to Rs 1454.50 crore in Q1 FY25 as against Rs 673.93 crore reported in Q1 FY24. Revenue from operations grew by 12.49% YoY to Rs 25,472.40 crore in June 2024 quarter.
The scrip shed 0.73% to Rs 3,014.35 on the BSE.
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