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

AbbVie Healthcare India, a subsidiary of US-based AbbVie Inc., is under scrutiny for spending nearly Rs 1.91 crore on travel tickets

gavel law cases

The payments fintech is currently in the process of reverse flipping from the United States (US) to India. The firm expects to complete the domicile shift sometime in 2025

Shashank Kumar, co-founder and managing director of Razorpay | photo: kamlesh pednekar

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the approval of Sapphire Media's resolution plan for acquiring Big 92.7 FM, owned by Reliance Broadcast Network Limited, dismissing a batch of appeals filed by Radio Mirchi, Orange FM, and others.The NCLAT Bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, concluded, "After considering the submissions, we find no grounds to interfere with the NCLT's order dated May 6, 2024, and consequently, the appeals are dismissed."Earlier, the National Company Law Tribunal (NCLT) cleared Sapphire Media's resolution plan in a ruling on May 6, 2024, with the plan being filed for approval by the resolution professional in NCLT Mumbai.The decision made by the National Company Law Tribunal (NCLT) was contested by the unsuccessful bidders, Abhijit Realtors  &  Infraventure and Creative Channel Advertising  &  Marketing, who filed a set of five appeals before the NCLAT. The appellants claimed ..

Earlier, the National Company Law Tribunal (NCLT) cleared Sapphire Media's resolution plan in a ruling on May 6, 2024, with the plan being filed for approval by the resolution professional in NCLT

Google has announced a series of changes in search result formats in recent months following conflicting demands from price-comparison sites, hotels, airlines and small retailers

Google, Alphabet

State-run power giant NTPC on Monday said it has signed an initial pact with GRIDCO and CRUT to set up green hydrogen infrastructure in Odisha.
NTPC has signed a Memorandum of Understanding (MoU) with GRIDCO, a Government of Odisha undertaking for Energy and Capital Region Urban Transport (CRUT), the public transit agency of the state government, on Monday, as per a statement.
The tripartite MoU intends to further green energy technologies in Odisha, especially green hydrogen mobility scheme.
As per the MoU, NTPC will set up a green hydrogen fuelling station in Bhubaneswar, along with hydrogen buses for short-haul and long-haul operations.
This will open an option of phasing out fossil fuel buses in favour clean and green fuels, bringing decarbonisation and energy security.
The Ministry of New & Renewable Energy has contributed partially for setting up of the project in Bhubaneswar.
The NTPC is operating the green hydrogen blending project in Surat for the last two years and has 

NTPC

The NTPC is operating the green hydrogen blending project in Surat for the last two years and has taken similar mobility initiatives in Leh, Greater Noida, and Gujarat's Kandla

The FDA has issued a warning letter to Viatris related to its drug manufacturing facility in Indore in the central Indian state of Madhya Pradesh

Image via Shutterstock

ReNew Energy Global Plc (ReNew) on Monday said it has signed an agreement with Anzen to sell entire stake in its wholly owned subsidiary RSWPL at an enterprise value of USD 176 million.
Under the agreement, ReNew Private will sell 100 per cent shareholding and economic interest in ReNew Sun Waves Pvt Ltd (RSWPL), which houses a 300 MW operating solar asset to Anzen India Energy Yield Plus Trust (Anzen).
In a regulatory filing, ReNew said it "announces the signing of definitive agreement to sell RSWPL to Anzen. The transaction is expected to close post completion of contractual obligations and conditions precedent including receipt of lender approval".
The enterprise value determined under the agreement is USD 176 million, subject to net current assets and other such adjustments as provided in the definitive documents.
Additionally, USD 17 million is expected to be received as an earn-out on account of change in law proceeds pertaining to increase in basic customs duty (BCD), safegu

Energy, Solar energy, Wind Energy

Under the agreement, ReNew Private will sell 100 per cent shareholding and economic interest in ReNew Sun Waves Pvt Ltd (RSWPL), which houses a 300 MW operating solar asset to Anzen

Zomato's Sensex weightage stands at 2.77 per cent, ranking 12th among the 30 components, surpassing consumer giants like Hindustan Unilever, Maruti Suzuki, Asian Paints, and Nestle

Zomato

Mindgrove's system-on-chips (SoCS) are built to be power-efficient and cost-effective for use in Internet of Things (IoT), vision and automobiles

Sharan Srinivas J (CTO) and Shashwath TR (CEO), Mindgrove TEchnologies

Technology startups raised $11.3 billion, a six per cent increase from $10.7 billion raised in 2023

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

Tamil Nadu has achieved a milestone by registering over 10,000 startups with the Department for Promotion of Industry and Internal Trade (DPIIT), under the Union Ministry of Commerce and Industry, the state government said on Sunday
StartupTN has played a crucial role in nurturing the ecosystem by implementing various schemes and initiatives like funding programmes, mentorship opportunities and incubation support, StartupTN Mission Director and CEO Shivaraja Ramanathan said.
The state's startup ecosystem has been 'thriving' with 9 regional hubs and a metro hub in Chennai, providing a robust infrastructure for budding entrepreneurs to grow, he said.
"Tamil Nadu has achieved a remarkable milestone of 10,000 DPIIT registered startups, a significant jump from 2,300 in March 2021. This exponential growth can be attributed to the revival of StartupTN under the leadership of Chief Minister M K Stalin focusing on supporting startups and fostering innovation," Ramanathan said in a social med

MK Stalin, Stalin

The state's startup ecosystem has been 'thriving' with 9 regional hubs and a metro hub in Chennai, providing a robust infrastructure for budding entrepreneurs to grow

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

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

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

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

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