Adani Power Gets Nod For Consolidation Of Transmission Line Business (08-Feb-2012)
Adani Power has received an approval for consolidation of transmission line business of the company into a new entity. The company has taken this step in order to integrate transmission line projects spread across various entities of Adani Group under one umbrella. The board of directors at its meeting held on February 06, 2012 has approved for the same.
Adani Power has been established to carry on the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
The company has reported a net loss of Rs 358.42 crore for the quarter ended December 31, 2011 as compared to net profit of Rs 109.11 crore for the same quarter in the previous year. However, total income has soared by 111.07% from Rs 502.94 crore for Q3FY11 to Rs 1061.58 crore in the quarter under review.
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