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

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

Moody's said that the impact of the derivatives transactions, coupled with the ongoing stress in the retail unsecured loans, is likely to hurt the bank's profitability, capital and funding

Indusind Bank

Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition.
Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of the Insolvency & Bankruptcy Code in 2024.
In 2024, NCLT had dismissed it due to non-prosecution and now Nona Lifestyle has requested to restore its old petition.
It has filed an application under Rule 11 of NCLT Rules, 2016, which provides the tribunal inherent power that can also be used for restoration purposes.
It has requested the Delhi-based NCLT bench "to admit the accompanying application and pass an order for initiating the CIRP against the Corporate Debtor (Zomato) here in under Section 9".
CIRP stands for Corporate Insolvency Resolution Process.
The matter was listed on Monday before a two-member bench of the NCLT, ...

zomato

Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of Insolvency & Bankruptcy Code in 2024

Electric two-wheelers haven't quite taken off the way the industry predicted. Can Ola Electric's motorbike charge up the scene?

Ola Electric, electric bike, electric vehicles, Ola, EV

Vedanta Ltd Chairman Anil Agarwal on Monday reaffirmed the company's commitment to unlocking value, saying the four new companies that will emerge from the demerger, have the potential to grow into USD 100 billion companies each.
The company's proposed demerger will create four independent natural resource-focused entities with management structures, capital frameworks, and strategic priorities.
In a letter to shareholders, Agarwal highlighted the need for pure-play businesses and how the proposed demerger will help Vedanta achieve this.
Vedanta plans to split the mining conglomerate into different businesses with a view to simplify the group's structure and help manage its debt burden.
Mining tycoon launched the plan to overhaul the business in 2023 after failing to take Vedanta private in 2020. According to Vedanta's demerger scheme, every Vedanta shareholder will receive 1 additional share in each of the 4 newly demerged companies on the completion of the demerger process.
The

Anil Agarwal, Vedanta Chairman

According to Vedanta's demerger scheme, every Vedanta shareholder will receive 1 additional share in each of the 4 newly demerged companies on the completion of the demerger process

Post the acquisition, Bajaj Group's stake in the two insurance ventures will go up to 100 per cent from 74 per cent currently

bajaj Finserv

Fair trade regulator CCI on Monday cleared Tata Sons' proposed acquisition of an additional 10 per cent stake in DTH operator Tata Play from Singapore's sovereign wealth fund Temasek Holdings.
Currently, Tata Sons -- the promoter of Tata Group -- owns a 60 per cent stake in Tata Play.
"The proposed combination involves the acquisition of 10 per cent shareholding in Tata Play by Tata Sons," the Competition Commission of India (CCI) said in a release.
Tata Sons is an investment holding company, which is registered as a core investment company with the Reserve Bank of India and classified as a "Systemically Important Non-Deposit Taking Core Investment Company".
"Commission approves the acquisition of certain additional shareholding in Tata Play Ltd by Tata Sons Pvt Ltd from Baytree Investments (Mauritius) Pte Ltd," the regulator said.
Baytree Investments (Mauritius) is an affiliate of Singapore's sovereign wealth fund Temasek Holdings.
Pursuant to the approval by CCI, Tata Sons will

tata play

Pursuant to the approval by CCI, Tata Sons will have a 70 per cent holding in the entertainment content distribution platform

Hindustan Unilever Ltd (HUL), a leading FMCG player, owns more than 50 brands, including Lakme, Lux, Knorr, Kwality Wall's, and Surf Excel

Hindustan unilever, HUL

During the hearing on Monday, Riju Raveendran's attorney told the appellate tribunal that Raveendran had paid Rs 158 crore from his own funds to settle the dispute with the BCCI

National Company Law Tribunal, NCLT

IIT Madras incubated TuTr Hyperloop to launch the world's first commercial hyperloop technology-based project next month

TuTr Hyperloop, a deep-tech startup incubated at IIT-M

Imarticus is currently in advanced discussions with investment banking firms, including IIFL, for its upcoming IPO

So long GIC Re, a public-sector entity, was the only player in the field

Insurance, irdai

Banga acknowledges that companies have no choice but to adapt, despite energy transition ships running on dual fuels costing up to 20 per cent more than conventional vessels

Harindarpal ‘Harry' Singh Banga

ELC President and CEO Stephane de La Faverie talks about how they are fostering entrepreneurship in India's rapidly expanding beauty market

Stephane de La Faverie, President & CEO, The Estee Lauder Companies

Dish TV is focusing on expanding its revenue stream, said Manoj Dobhal

Manoj Dobhal, CEO, Dish TV

The Ordinance has excluded Reserve Bank of India (RBI)-regulated entities (REs) which are in this business

JIJI MAMMEN, ED&CEO, Sa-Dhan

Our mission is to apply AI in practical, real-world scenarios and integrate it into existing systems, says Sivasubramaniam

SHEKAR SIVASUBRAMANIAM, CEO, Wadhwani AI

In the past, we have launched many products in the market, from generation 4 to generation 5, to Apex, Rizta, and Halo, said Ather Energy CTO

Swapnil Jain, co-founder and chief technology officer of Ather Energy

Gupta spoke about the company's growth roadmap, export plans, and upcoming launches

Jalaj Gupta, Managing Director, TI Clean Mobility, Murugappa Group

I'm not overly concerned about daily stock price fluctuations - we are in this for the long term, said Hexaware CEO

R. Srikrishna, CEO of Hexaware

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