Business conglomerate Godrej Industries Ltd on Tuesday reported an 81 per cent increase in consolidated net profit at Rs 322.49 crore for the April-June quarter of 2024, on higher income.
Its net profit stood at Rs 178.06 crore in the year-ago period.
Total income increased to Rs 5,259.41 crore in the April-June period of 2024-25 fiscal, from Rs 4,893.40 crore in the corresponding period of the previous year, according to a regulatory filing.
Godrej Industries has presence in chemicals, estate management (real estate), finance & investments.
On business performance of its subsidiaries, joint ventures and associate companies, Godrej Industries said the consolidated sales of Godrej Consumer Products Ltd (GCPL) stood at Rs 3,311 crore in the first quarter of this fiscal.
Godrej Properties' total Income grew to Rs 1,638 crore in April-June period of this fiscal, from Rs 1,315 crore in the year-ago period.
Godrej Agrovet's total income declined to Rs 2,360 crore in the period under ..

Godrej Industries has presence in chemicals, estate management (real estate), finance & investments

Press Trust of India

Patel Engineering Ltd on Tuesday reported a 25.81 per cent rise in its consolidated net profit to Rs 48.17 crore in the April-June quarter of 2024.
It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing.
The company's revenue from operations declined by 1.52 per cent to Rs 1,101.66 crore in the June quarter.
It was at Rs 1,118.61 crore in the year-ago period.
Patel Engineering's Managing Director Kavita Shirvaikar said, "Our focus remains on delivering long-term value for our stakeholders while continuously enhancing operational efficiency and output."
"With this strong foundation in place, we are poised to build a brighter future for Patel Engineering Limited and creating lasting value for India's infrastructure development," she added.
The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.

It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing

Nykaa Q1FY25 results: Ebitda surged over 30% Rs 96 crore in April-June quarter compared to Rs 73 crore last year

Business Standard

Tata Consumer Products chairman N Chandrasekaran said businesses are focusing on resilience and productivity as global disruptions reshape markets and consumer behaviour

N Chandrasekaran

Bharti Airtel has rebranded its Priority Postpaid service, which triggered net neutrality debate, as Fast Lane service, extending the promise of faster connectivity to postpaid users, the company said on Wednesday.
The company has made changes on the website, and signals on mobile phones are also displaying the "Fast lane" name now.
When asked if the company has shelved the Priority Postpaid plan, the company spokesperson denied the development but acknowledged the rebranding of the service as Fast Lane.
"There is no question of withdrawal of our new post-paid plan... Our launch campaign has ended. And our descriptor to signal what we are doing  'Fast Lane' - captures the essence of what we offer. Our postpaid users continue to remain on a slice.  So, every user who chooses our postpaid plan and has a 5G-capable device gets an enhanced experience. Faster speeds, unlimited data, and exceptional service," the spokesperson said.
The spokesperson said that network slicing used for ...

Airtel

Airtel launched "Priority Postpaid" on May 19, which promises consistent speed even in crowded markets for postpaid customers

Details of the proposed share sale, including its size and valuation, have yet to be determined, the people said

Carlyle

Bloomberg

The Blackstone-backed firm plans to raise capital from domestic and offshore investors to fund residential projects and special situations across six major cities

Ask property fund, ask | Image: LinkedIn

SmartPages enables businesses to generate customised payment pages using simple text prompts, removing the need for coding or design expertise

Phonepe

Repeated shocks from Covid to conflict in West Asia are pushing Indian companies to diversify suppliers, localise sourcing and strengthen risk monitoring, even at the cost of higher expenses

supply chain, logistics, inventory, warehouse

The Bombay High Court has granted interim protection from prosecution and penalty to industrialist Anil Ambani in an alleged tax evasion case, while admitting his petition challenging the constitutional validity of provisions of the Black Money Act.
Ambani, in his plea, said certain provisions of the (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, were "ultra vires" (beyond the powers/violative) to the Constitution of India.
A bench of Justices B P Colabawalla and Firdosh Pooniwalla on Tuesday noted that there are other petitions filed in HC against the Act and admitted Ambani's plea, which will be taken up for final hearing in due course.
The court directed the Union government to file its affidavit in response to the plea.
The HC noted that an assessment order against Ambani has already been passed and that he has filed an appeal before the Commissioner of Income Tax (Appeals).
"The said appeal can proceed and orders can be passed thereon. However, we ..

ED links Anil Ambani firms to loan diversion; summons him August 5

Anil Ambani

The court directed the Union government to file its affidavit in response to the plea

Nine Indian startups, including Dhruva in the space business and Varaha in the climate arena, have made it to the World Economic Forum's latest list of new technology pioneers.
Releasing the list, the WEF said these 100 early-stage startups from 23 countries are building the infrastructure for the next era of AI and are developing breakthrough technologies with the potential to transform industries and societies.
"What sets this year's cohort apart is its focus on enabling the next era of Artificial Intelligence (AI). While recent advances have centred on models and consumer applications, many of the Tech Pioneers are building the software and physical infrastructure needed to AI at scale," the WEF said.
The cohort also reflected the expanding geographies of frontier innovation.
India has contributed nine companies, many focused on deep-tech and space innovation, while the Republic of Korea records its strongest representation to date across AI, robotics and quantum ...

World Economic Forum, WEF

India has contributed nine companies, many focused on deep-tech and space innovation, while the Republic of Korea records its strongest representation to date across AI, robotics and quantum technolog

The company's first indigenously designed server platform is aimed at reducing costs, improving performance and strengthening technology self-reliance

ZOHO

The health-tech startup plans to use the funds to expand its clinic network, strengthen technology capabilities and scale its integrated paediatric care model

startup funding investment

Zepto's IPO filing shows the company has emerged as Blinkit's closest challenger in quick commerce, although heavy investments in expansion continue to weigh on profitability

Zepto

Alvarez & Marsal executives Steve Wallace and Himanshu Bajaj discuss AI adoption, return on investment, ethical safeguards and growth opportunities across global markets

Alvarez & Marsal’s (A&M’s) Managing Director and Chief Operating Officer Steve Wallace, and the company’s India head and MD Himanshu Bajaj, who also leads A&M’s India global capability centre

Alvarez & Marsal's (A&M's) Managing Director and Chief Operating Officer Steve Wallace, and the company's India head and MD Himanshu Bajaj, who also leads A&M's India global capability centre

Bank of India expects up to $1 billion in FCNR-B inflows under RBI's special window, while maintaining strong credit growth and preparing for ECL norms

Rajneesh Karnatak, MD and CEO, Bank of India

Rajiv Bajaj has informed the company that he will not seek re-election at the annual general meeting (AGM) scheduled for July 31

rajiv bajaj baja auto ceo

Canara Bank expects ₹1,000-2,000 crore in FCNR(B) inflows, aims to boost CASA deposits and reduce reliance on bulk deposits under its new CEO

Shri. Brajesh Kumar Singh, MD & CEO, Canara Bank

Ashwani Kumar, Managing Director and Chief Executive Officer (MD&CEO), UCO Bank

We are conducting a saturation drive for inoperative PMJDY accounts, meeting customers one-on-one to encourage them to operate their accounts, says Ashwani Kumar

Pham Sanh Chau

VinFast is committed to making EVs more accessible while contributing to economic growth through investment and local job creation.

Yogesh Mathur, Director-Sales & Marketing, HMSI

Two-wheeler demand likely to remain tepid until festival season, says HMSI

JSW joint managing director and chief executive officer Jayant Acharya

Q1 was disrupted by plant maintenance shutdowns at Dolvi and Bhushan Power and Steel (BPSL), which had an impact on our costs both for capex and operations

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