GVK Power forms a new subsidiary
As a result of this, the equity stake of the Company in GPL has been increased from 44.97 per cent (17,42,02,550 shares) to 51 per cent (28,02,12,462 shares) and accordingly GPL has become a subsidiary of the Company with effect from July 01, 2008.
The company had earlier announced its annual results and recorded a net profit of Rs 104.9 crore for the financial year ended March 2008.