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

Reliance Power on Tuesday said its arm Reliance NU Suntech has secured a solar project of 930 MW and 465 MW battery energy storage system (BESS) project from Solar Energy Corporation of India (SECI).
The project will see the second largest deployment of grid storage batteries at a single site in Asia, after China, a company statement said.
According to the statement, Reliance Power subsidiary, Reliance NU Suntech Private Ltd (Reliance NU Suntech) received a Letter of Award from SECI for its proposed Solar 930 MW and 465 MW/1860 MWh BESS projects.
The competitive tariff with an assured supply of peak power for 4 hours daily will be a relief for DISCOMs that have had to consistently buy power from the power exchanges during peak hours at the cap of Rs 10 per unit.
Reliance NU Suntech won the 930 MW solar energy contract in an e-reverse auction held on December 9, 2024.
As per the terms of the tender, Reliance NU Suntech will also install a minimum storage capacity of 465 MW/1,860 MW

Reliance Power

The project will see the second largest deployment of grid storage batteries at a single site in Asia, after China

Hyper-local e-commerce firm magicpin has forayed into quick commerce for food delivery with the launch of its magicNow brand that will work for over 2,000 food brands and 1,000 merchants to start with, the company said on Tuesday.
Unlike other quick commerce players, magicpin will not operate via dark stores for food delivery, the company said in a statement.
"magicNOW is to provide fast food delivery within a 1.5 km to 2 km radius to maintain freshness and cuisine integrity, and will be initially launched in Bangalore, Hyderabad, Mumbai, Chennai, Delhi-NCR, and Pune," magicpin said.
magicNOW will leverage the service of magicpin's logistic aggregator vertical -- Velocity.
Under Velocity, magicpin acts as an aggregator of its third party logistics partners such as Shadowfax, Dunzo, Rapido, Porter, OLA, Zypp etc for the supply backend, consolidating all 3PL services under one umbrella for brands and its sellers.
magicpin is currently offering Velocity to multiple brands including K

food delivery, online delivery

Unlike other quick commerce players, magicpin will not operate via dark stores for food delivery, the company said in a statement

Second fund by venture capital firm will invest in sectors like deep tech, climate, sustainability

Alternative investment funds (AIFs) have crossed Rs 5 trillion in terms of funds raised, while the investment commitments have surpassed Rs 12 trillion for the first time as of September, according to data released by the Securities and Exchange Boar

Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had no short-term need for solar power

Adani

Embassy Office Parks REIT has raised Rs 1,000 crore through issue of Non-convertible Debentures (NCDs) to repay its outstanding loan.
In a regulatory filing on Tuesday, Embassy REIT said it has raised Rs 1,000 crore through five-year coupon-bearing debt at an interest rate of 7.73 per cent.
Embassy REIT will utilise the proceeds from this debt raise to repay its certain existing debt.
Through this refinance, Embassy REIT will be able to secure around 70 basis points of interest savings from the existing rate.
Ritwik Bhattacharjee, Interim Chief Executive Officer, Embassy REIT, said, the company has raised this amount at a highly competitive rate.
"Raising a 5-year NCD allows us to optimally stagger our liability profile and ensure we continue to finance our growth and the rollover of debt maturities prudently," he said.
Embassy REIT is India's first publicly listed Real Estate Investment Trust.
Embassy REIT owns and operates a 51.1 million square feet portfolio of 14 office park

Debt funds

Embassy Office Parks REIT has raised Rs 1,000 crore through issue of Non-convertible Debentures (NCDs) to repay its outstanding loan.

Wealthy Indians offer 'significant growth potential' for such assets, it says

The Indian Banking, Financial Services, and Insurance (BFSI) industry has shown strong resilience amid global headwinds and achieved impressive growth. Credit growth has remained robust, and non-performing assets (NPAs) have reduced to multi-year low

Company and state government in August signed agreement for technology advancement

Google app

Exotel's expansion into high-growth markets like Saudi Arabia, UAE, and the USA is driving new revenue streams and the company said it is poised for strong growth in FY25

AI, Artificial Intelligence

Fintech has become sixth-largest UPI app, processing over 78 million transactions in November

Super.money fintech firm upi flipkart

Space Kidz may become first Indian private firm to crash-land on the moon's surface

Moon Mission

Company plans to use the funding to expand its operations, hire talent, and for brand building

Startup funding

India has a demographic advantage and substantial growth and a political system that is relatively calm and consistent, Stephen Dainton, President of Barclays Bank PLC said

Stephen Dainton, President of Barclays Bank PLC

This partnership allows us to access IOC's 37,000 retail outlets and 13,000 LPG distributors, and they have a very strong brand presence, he says

Chetan Maini, Chairman, Sun Mobility

On quick commerce, he says a pilot for 15-minute delivery is starting in Bengaluru this month

Amazon India head Samir Kumar

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves

Dilip Oommen - CEO, AMNS India

Jayabalan said the India GTDC is playing a crucial role for driving global innovations at the firm and the plan is to continue scaling up the centre both in terms of capacity and capabilities

Sreekanth Jayabalan, VP Transformation Officer and VP in charge of the Global Digital Technology Centre (GDTC),  at global consumer goods firm Kimberly-Clark

Agarwal expresses confidence of pick up in private capex and opportunities arising out of US president-elect Donald Trump's tariff war

Harsha Vardhan Agarwal, vice-president and managing director, Emami

We have unveiled our AI technology transformation strategy. And we have, in general, as a firm, been huge beneficiaries of using technology early, Rajeev Jain said

Rajeev Jain, MD, Bajaj Finance

The firm has already secured Rs 300 crore and aims to achieve the full target within the next 6 to 9 months, according to Ankur Bansal, Managing Director (MD) of BlackSoil

ANKUR BANSAL, co-founder and director of BlackSoil

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