Adani Enterprises has incorporated a wholly owned subsidiary, Raigarh Natural Resources (RNRL), on 26 August 2022, with an initial authorized share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh each.
RNRL will carry out business in mining of coals and other minerals and to do all necessary and incidental activities in this regard. It will commence its business operations in due course, the company stated.
Adani Enterprises is the flagship company of Adani Group, one of India's largest business organisations. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses. The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, roads, data center and water infrastructure.
The company's consolidated net profit jumped 72.9% to Rs 469.46 crore in Q1 FY23 as against Rs 271.46 crore in Q1 FY22. Revenue from operations in the first quarter stood at Rs 40,844.25 crore, surged 224.7% from Rs 12,578.77 crore reported in the same period last year.
Shares of Adani Enterprises were up 2.37% to settle at Rs 3,139.45 on Friday, 26 August 2022.
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