Reliance Industries acquires Lakadia B Power Transmission Project

17 Feb 2025 CW Team

Reliance Industries has acquired a 100 per cent equity stake in Lakadia B Power Transmission (LPTL) for a total of Rs 600.73 million. As a result, LPTL has become a wholly-owned subsidiary of Reliance Industries.

Reliance Industries, India鈥檚 largest private sector corporation, operates across various sectors, including hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail, and digital services. The company recently reported a 12 per cent year-on-year increase in its consolidated net profit, reaching a record high of Rs 219.30 billion for the quarter ending December 31, 2024. Additionally, its Q3 revenue grew by 7.7 per cent to Rs 2.67 trillion, and its EBITDA rose 7.8 per cent to Rs 480.03 billion.

On February 14, 2025, Reliance Industries' stock saw a slight increase of 0.06 per cent, closing at Rs 1,216.95. This acquisition of LPTL is part of Reliance's on-going strategy to expand its business portfolio, further strengthening its presence in the power transmission sector.

News source: Business Standard

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