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

Airline opposes DGCA plan to extend 'night duty window'

indigo airlines, indigo

Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap.
Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it.
"IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely clear about promoting the insurance business. This augurs very well for the business and policyholders as IIHL has a very strong capital base and a solid global aspiration in BFSI space," Reliance Nippon Life Insurance CEO Ashish Vohra told PTI.
Hinduja Group company IIHL is expecting to complete the acquisition of RCAP by next month nearly a year after the National Company Law Tribunal (NCLT) approved its rescue plan.
"Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are .

Reliance Nippon Life insurance

Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it

Integrated fund and management development platform Welspun One on Wednesday said it has initiated the process to raise Rs 4,000 crore, which is drawing substantial interest, especially from global investors.
It will also broaden the platform's investor base and position it as a node for international investors seeking exposure to India's rapidly evolving logistics landscape, Welspun One said.
The fundraising is a key milestone in the company's strategy to double its portfolio size from 16 million sq ft to around 32 million sq ft by 2028, the company said, adding that it has already identified a robust pipeline of around 8 million sq ft across multiple assets.
It has an active pipeline to deploy around Rs 1,500 crore in new-age, capital-intensive logistics assets, Welspun One noted.
"By aligning with global partners who bring unmatched expertise and capabilities, we are not only securing capital but also setting a new standard for efficiency, adaptability, and long-term value ...

Welspun India

Welspun One said it has already committed around 75 per cent of its Rs 2,275-crore Fund 2, within six months of its final close earlier this year

With a catalogue of over 12 million parts, myTVS will initially establish 50 "dark stores" branded as myTVS Hypermart by March 2025 in Tamil Nadu, Kerala, Maharashtra, and Gujarat

G Srinivasa Raghavan, managing director of myTVS

State-owned Punjab & Sind Bank on Wednesday raised Rs 3,000 crore from issuance of maiden infrastructure bonds aimed at expanding infra lending.
The bank received total bids of Rs 6,031 crore against the base issue size of Rs 500 crore, Punjab & Sind Bank said in a regulatory filing.
Further, it said, the bank has decided to accept bids of Rs 3,000 crore at coupon rate of 7.74 per cent per annum.
In accordance with RBI guidelines, these papers with a tenure of 10 years would be listed on the National Stock Exchange (NSE) for trading.
These unsecured, subordinated, redeemable, non-convertible, taxable, fully paid-up long term bonds in the nature of debentures have a face value Rs 1 lakh each, it said.
Allotment of bonds to successful bidders would be done on Friday, it added.
Domestic investors have shown a lot of interest in such bond issuance by banks, and many lenders have exercised this option for raising resources in the recent past.
The advantage of infrastructure bonds ..

Punjab & Sind Bank

Domestic investors have shown a lot of interest in such bond issuance by banks, and many lenders have exercised this option for raising resources in the recent past

Of the Rs 550 crore of bad loans put up for sale by PCHFL, Rs 314 crore are unsecured loans, and Rs 236 crore are secured loans

Housing Finance

IPO-bound overseas education loan company Credila suspected fraud during the September quarter

Fraud, Online scam,scam

Funding led by new investor Thrive Capital. Company expects to cross $3 bn in revenue run rate and achieve positive free cash flow in fourth quarter

AI startup funding

The firm's IoT-enabled machines are installed in offices and public places, including at Microsoft, Facebook, Rashtrapati Bhawan, and the iconic Deccan Queen train

Abhinav Mathur, chief executive officer of Kaapi Machines

The company will likely go for a bilateral deal to be finalized in early 2025, they said, adding the terms are not finalized yet and bank credit is also an option

Indian start-up Yotta Data Services Pvt. Ltd.

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

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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