Adani Power incorporates subsidiary in Abu Dhabi
The power generation company announced that it has incorporated a wholly owned subsidiary, Adani Power Middle East in Abu Dhabi.
Adani Power Middle East was incorporated on 26 August 2024 with an authorized capital of 27,000 shares, each valued at $1.
The company said that it incorporated the Abu Dhabi unit to invest in power, infrastructure, and related fields.
Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.
The company has reported 55.33% fall in consolidated net profit to Rs 3,912.79 crore in Q1 FY25 as compared to Rs 8,759.42 crore recorded in Q1 FY24. However, revenue from operations jumped 35.89% YoY to Rs 14,955.63 crore in the quarter ended 30 June 2024.
Share of Adani Power rose 0.93% to Rs 667.55 on the BSE.
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First Published: Aug 27 2024 | 10:59 AM IST