Hot Pursuit     18-Jun-24
Swan Energy gains after board OKs to incorporate subsidiary
Swan Energy advanced 1.74% to Rs 648.35 after the company's board has approved a proposal to incorporate a wholly owned subsidiary to engage in information technology (IT) and artificial intelligence (AI) activities.
The company incorporated a new subsidiary namely, Swan ImagAInation Private. The main object of the incorporation is to engage in survey & imaging services related activities using the latest technology including but not limited to Remote sensing, GIS, LIDAR, Laser Scanning and Drone Photogrammetry.

Swan Energy will hold a 100% stake in the subsidiary with initial capital contribution at face value.

This wholly-owned subsidiary (WOS) will be considered a related party after incorporation, and any transactions with it will be conducted at arm's length.

Swan Group is among India's leading private sector business houses serving the nation for more than a century across textile, real estate and oil & gas sectors.

The company reported a 10.55% decline in consolidated net profit to Rs 55.58 crore as compared to Rs 62.14 crore posted in Q4 FY23. Revenue from operations climbed 49.79% to Rs 1,397.90 crore in Q4 FY24 over Q4 FY23.

Previous News
  Swan Energy reports consolidated net profit of Rs 84.58 crore in the September 2023 quarter
 ( Results - Announcements 10-Nov-23   12:35 )
  Swan Energy subsidiary prepays Rs 2,206 crore loan; significantly reduces Group’s debt burden
 ( Hot Pursuit - 04-Mar-24   09:35 )
  Swan Energy announces empanelment and tie-up with Telecommunications Consultants India
 ( Corporate News - 08-May-24   15:05 )
  Swan Energy standalone net profit rises 166.67% in the December 2018 quarter
 ( Results - Announcements 12-Feb-19   16:48 )
  Swan Energy to hold EGM
 ( Corporate News - 23-Sep-23   17:28 )
  Volumes spurt at Swan Energy Ltd counter
 ( Hot Pursuit - 26-Aug-21   14:30 )
  Volumes jump at Swan Energy Ltd counter
 ( Hot Pursuit - 13-Oct-21   11:00 )
  Swan Energy Ltd leads losers in 'A' group
 ( Hot Pursuit - 17-Mar-23   15:00 )
  Swan Energy reports standalone net loss of Rs 0.20 crore in the March 2015 quarter
 ( Results - Announcements 02-Jun-15   15:11 )
  Swan Energy to announce Quarterly Result
 ( Corporate News - 02-Nov-18   10:35 )
  Swan Energy Ltd leads gainers in 'A' group
 ( Hot Pursuit - 26-Aug-21   12:01 )
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