ALSO READNettlinx to hold board meeting Nettlinx consolidated net profit declines 87.34% in the June 2017 quarter Nettlinx standalone net profit declines 90.91% in the March 2017 quarter Nettlinx consolidated net profit rises 10.00% in the March 2017 quarter Nettlinx standalone net profit rises 123.40% in the June 2017 quarter
As part of strategy to diversify into sunrise business segmentNettlinx announced acquisition of a controlling 51% stake in Sri Venkateswara Green Power Projects, a company involved in developing and implementing a viable and environmentally sustainable 12 MW power plant, a renewable energy project.
The proposed state-of-the-art power plant, converts GHMC waste into energy, is being developed in the GHMC south zone located about 50 km from the Telangana State Secretariate.
The project will be operational in about 18 months time.
This acquisition is part of the Company's strategy to diversify into sunrise business segments.
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