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

Ola Electric on Thursday said it will expand its sales and service network to about 4,000 outlets on December 25.
With over 3,200 new stores complementing its existing footprint, the Bengaluru-based firm is bringing its portfolio of electric vehicles (EVs) closer to consumers across metros, Tier-2, and Tier-3 towns, Ola Electric said in a statement.
The company has launched #SavingsWalaScooter campaign, an initiative to bring EVs closer to every Indian household, it added.
Co-located with service facilities, these stores will ensure customers receive sales and after-sales support, it added.
"By leveraging its direct-to-consumer (D2C) model, Ola is ensuring that EV ownership becomes a reality for every household, breaking barriers to adoption and offering relief from rising petrol prices and high cost of ownership of ICE vehicles," the company said.
Ola has recently expanded its product portfolio with the launch of Gig and S1 Z scooter ranges.
With introductory prices starting at 

Ola Electric, OLA

With over 3,200 new stores complementing its existing footprint, the Bengaluru-based firm is bringing its portfolio of electric vehicles (EVs) closer to consumers across metros, Tier-2, and Tier-3 tow

Airtel has cleared dues from 2012 and 2015 auctions earlier this year

airtel bharti airtel

Zetwerk raises $90 million in 2024, led by Khosla Ventures, Rakesh Gangwal, and Baillie Gifford, increasing its valuation to $3.1 billion

Zetwerk Founders

Increase in tax on electric vehicles will make it difficult for the electrification journey of the Indian automotive industry, Kia India Managing Director and CEO Gwanggu Lee said on Thursday.
The company, which unveiled its new company SUV Syros, is looking at around 17 per cent sales growth next year at 3 lakh units as compared to 2.55 units expected this year.
A big burden for EVs is still the high price, Lee told PTI here in an interaction.
"So without any tax incentive from the government it is very difficult," he said when asked about the impact on possible increase in tax on EVs.
New EVs at present attract 5 per cent GST.
There has been speculation that the GST rate on used EVs, currently taxed at 12 per cent, may be reclassified into the higher 18 per cent tax slab.
Kia India currently sells two EV models -- EV6 with price starting at Rs 60.96 lakh and EV9 tagged at Rs 1.3 crore.
Lee cited the example of Canada where sales of EVs crashed when the incentives on EVs were .

Electric vehicles, EVs, Electric car

The company, which unveiled its new company SUV Syros, is looking at around 17 per cent sales growth next year at 3 lakh units as compared to 2.55 units expected this year

State-owned Oriental Insurance Company Ltd incurred a loss of Rs 194 crore during FY20 for failing to properly determine bidding rates for Pradhan Mantri Fasal Bima Yojna, said a CAG report.
According to report number 12 presented in Parliament earlier this week, Oriental Insurance Company Ltd determined the bidding rates for Pradhan Mantri Fasal Bima Yojna in 2019-20 by applying pricing components uniformly without specific determination as per the terms and conditions of the Agriculture Quota Share Reinsurance treaty with General Insurance Corporation of India, being Re-insurer.
"This led to imposition of Loss Corridor clause of the treaty by GIC and consequent loss of Rs 194.08 crore," it said.
Imprudent underwriting of Group Janta Personal Accident Policy of the Maharashtra state government by the public sector general insurance company without reinsurance cover and in violation of guidelines of Insurance Regulatory and Development Authority of India (IRDAI) in 2018-19 led to a 

Oriental insurance

As per the report, SBI Cards and Payment Services Ltd (SBCPSL) approved the renewal of the credit card facility of a client raising the credit limit from Rs 70 crore to Rs 90 crore

In 2024, the company expects its sales to remain at similar levels to those recorded in 2023

A LinkedIn India spokesperson confirmed the development in response to an email query by Business Standard

LinkedIn

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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