Adani Enterprises incorporates a wholly-owned subsidiary, Adani Digital Labs

Adani Enterprises (AEL) has incorporated a wholly-owned subsidiary named - Adani Digital Labs (ADLPL) on Wednesday, 22 September 2021.

Adani Digital Labs (ADLPL) was incorporated with the objective of transforming consumer businesses to digital first businesses by creating an omnichannel, integrated platform enabling the customers to interact with all B2C businesses of Adani Group.

Adani Enterprises (AEL) has invested Rs 1 lakh (10,000 shares at Rs 10 each) in cash, acquiring 100% stake of its (wholly-owned) subsidiary (WOS), Adani Digital Labs.

AEL's consolidated net profit stood at Rs 196.78 crore in Q1 June 2021 compared with net loss of Rs 148.65 crore in Q1 June 2020. Net sales soared 138.9% to Rs 12,578.77 crore in Q1 FY22 from Rs 5,265.19 crore in Q1 FY21.

Shares of Adani Enterprises rose 0.23% to Rs 1,477.45 on BSE. 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.

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