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

Belson Coutinho, a key member of Akasa Air's leadership since 2022, previously served as chief marketing and experience officer before being appointed Chief Operating Officer (COO)

Belson Coutinho

Temasek has emerged as the leading contender to acquire a minority stake in Haldiram Snacks, after signing a term sheet with the promoters, with a valuation between $10 billion-$11 billion

Haldiram

The Indian arms of Deloitte, PwC, EY, and KPMG outpaced their global counterparts in FY24, driven by booming demand for consulting services, with revenue set to surpass Rs 45,000 crore by FY25

Big Four firms

India has several venture-backed startups for whom the natural consequence is to have an exit, and between profitability and growth in the journey ahead, "we opted for the latter", Zoya Brar, founder of Core Diagnostics, which was recently acquired by Metropolis Healthcare, said.
Metropolis Healthcare, one of India's leading diagnostics chains, acquired specialised diagnostics company Core Diagnostics for Rs 246.8 crore last month.
"For an organisation to scale, it can either do it organically or inorganically. Since we have a number of venture-backed startups (in India), the natural consequence is, there needs to be an exit. And while IPOs are an option, they need a certain volume and scale before it makes sense. So we will continue to see consolidation," Brar told PTI.
"Most importantly, incumbents like Metropolis need to constantly differentiate themselves to remain ahead of the competitive landscape and one simple way to do that is to acquire insurgents that have built an ...

Mergers and acquisitions, M&A, deals

Metropolis Healthcare, one of India's leading diagnostics chains, acquired specialised diagnostics company Core Diagnostics for Rs 246.8 crore last month

Delhi bound flight, returned to Bengaluru for an emergency landing after one its engines failed mid-air

Air India

Pernod is contesting a $250 million India tax demand for allegedly undervaluing imports and also faces an investigation into violations of New Delhi city's liquor policy

Pernod Ricard

Athos Chemicals and Raxuter Chemicals, both based in Gujarat, were each charged in Brooklyn with distributing the ingredients and conspiring to distribute them

Fentanyl

At present, CoinSwitch has a base of over 20 million users. The programme aims to target about 4 million users of the WazirX platform

Crypto exchange platform CoinSwitch

The company will utilise the raised funds to scale its two-wheeler energy solution to over 1 lakh vehicles over the next two years while advancing the deployment of 1 GWh of energy storage

EMO Energy

One of the opportunities identified by Accel under the consumer theme is 'Bharat', where startups cater to the top 30 per cent of households in India's Tier-2+ regions

(From left) Abhinav Chaturvedi and Barath Shankar Subramanian, Partners at Accel

The Department for Promotion of Industry and Internal Trade (DPIIT) on Saturday said it has joined hands with venture debt firm Stride Ventures to support high growth potential startups in their funding requirements.
It said this collaboration will be instrumental in creating enormous opportunities for startups by integrating financial support with strategic mentorship and market access.
Highlighting the macroeconomic impact of this collaboration, Joint Secretary in DPIIT Sanjiv said Stride Ventures will curate dedicated programmes and collaborate on engagements like the Bharat Grand Challenge to promote entrepreneurship, innovation, and investment.
Ishpreet Singh Gandhi, Founder and Managing Partner, Stride Ventures, said "this partnership, coupled with our billion-dollar commitment to nurturing startups, reaffirms our resolve to strengthen India's startup ecosystem".
The department said Stride Ventures will give thrust "on identifying startups with high growth potential, offering

India's technology startup ecosystem got six new unicorns in 2024: There were two last year. The new unicorns – startups reaching $1 billion valuation – specialise in lending, logistics, software and generative intelligence. Technology startups raise

It said this collaboration will be instrumental in creating enormous opportunities for startups by integrating financial support with strategic mentorship and market access

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

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

India has become a very important hub. But it's not the only hub for us to innovate, given our width of solutions

Shailendra Katyal, Managing Director, Lenovo India

Singh spoke about the major trends that dominated the insurance space in 2024 and the trends to look forward to in the new year

Sarbvir Singh, CEO, Policybazaar.com

Debecker spoke about Cloud services and artificial intelligence and how Wipro is preparing to be an AI-powered firm

JO DEBECKER, managing partner and global head of Wipro FullStride Cloud

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

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