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

The Budget 2025-26 should announce a PLI scheme for R&D to attract foreign companies and make India a global hub for innovation, said Deloitte India Partner (Direct Tax) Rohinton Sidhwa.
He said the government has been pursuing a policy wherein tax holidays are less and more focus is on Production Linked Incentive (PLI) or other schemes which promote investment and employment.
"We need to push India as the R&D lab of the world and if there can be such a policy which stimulates that, like PLI for R&D which includes foreign companies, that could be a game changer," Sidhwa told PTI in an interview.
The Budget for 2025-26 will be presented in Parliament on February 1.
Sidhwa said that one area which the government needs to look at is how to stimulate innovation and reward R&D spending and that would happen only when the country is able to attract global R&D centres into India.
"If we can develop our own R&D, we are less reliant on developed world for technology and

Deloitte

Sidhwa said if the Budget can announce a policy that specifically rewards global companies to come to India, that will boost FDI

Western Coalfields Ltd (WCL), a subsidiary of Coal India, has projected flat coal production at 69 million tonne in FY'25, mirroring last year's output, as it grapples with operational and pricing challenges.
Despite achieving its highest-ever coal production of 69.113 million tonne in FY24, reflecting a 7.5 per cent growth, WCL anticipates no growth this fiscal or the next due to limited reserves, adverse geo-mining conditions, and escalating production costs, a top company official said.
"Our total production for FY'25 will remain around 69 million tonne, similar to last year. Despite our best efforts, we expect production to remain flat next fiscal as well due to unique mining and pricing challenges," WCL Chairman and Managing Director Jai Prakash Dwivedi said.
The Nagpur-headquartered company operates 52 mines, including 19 underground and 33 open-cast mines, across 10 areas in Maharashtra and Madhya Pradesh.
WCL produced 45.1 million tonne of coal between April and December, .

Coal

The Nagpur-headquartered company operates 52 mines, including 19 underground and 33 open-cast mines, across 10 areas in Maharashtra and Madhya Pradesh

About 99,165 electric cars were sold in India in 2024, recording 20 per cent year-on-year growth, according to FADA

Hardeep Singh Brar, National Head of Marketing & Sales, Kia India

Burmans' Religare Enterprises' open offer to acquire an additional 26 per cent stake from the open market would commence on January 27 following the regulatory approvals.
Last month, the Reserve Bank approved the open offer of the Burman family -- the promoters of FMCG major Dabur -- to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd (REL).
The open offer is for the acquisition of up to 9,00,42,541 fully paid-up equity shares of face value of Rs 10 each, representing 26 per cent of the expanded voting share capital of REL from the public shareholders by M.B. Finmart Private Ltd, Puran Associates Private Ltd, VIC Enterprises Private Ltd and Milky Investment & Trading Company, a regulatory filing said.
According to the tentative schedule of the open offer, the offer closes on February 7.
As of September 30, 2024, Burmans, through its four entities, collectively owns a 25.12 per cent stake in REL.
The Burman family -- a promoter of Dabur India and other 

Religare

Last month, the Reserve Bank approved the open offer of the Burman family -- the promoters of FMCG major Dabur -- to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd

Commercial vehicle maker SML Isuzu has forayed into the electric vehicle business with the launch of Hiroi.ev platform for commercial buses that are expected to be rolled out in the April-June quarter this year, a senior company official said.
While admitting the continuing dominance of diesel, petrol, CNG-based vehicles, the company expects the government's sustainability targets and programmes to push demand for EV buses and bring down cost of production with large volumes.
"As we introduced our first ever EV bus, I think technology is available and we are ready for implementation. We think this is the right time to roll out EVs.
India is one of the most promising markets in the world. Indian government plans for 30 per cent EV penetration in total sales by 2030 will provide us strong support for growth in EV buses," SML Isuzu, MD and CEO, Junya Yamanishi said at Bharat Mobility Global Expo.
The company's Hiroi.ev bus platform has been designed for intra and inter-city ...

SML Isuzu

While admitting the continuing dominance of diesel, petrol, CNG-based vehicles, the company expects the government's sustainability targets and programmes to push demand for EV buses

STT Global Data Centres India Pvt Ltd signed a Memorandum of Understanding (MoU) with the Telangana government to establish a state-of-the-art data centre campus in the Meerkhanpet, Mucherla region, with an investment of Rs 3,500 crore.
The MoU was signed in the presence of Telangana Industries Minister D Sridhar Babu, Bruno Lopez, Group CEO of ST Telemedia Global Data Centres (STT GDC), and other officials at the STT GDC office in Singapore.
The upcoming AI-ready data centre campus will feature cutting-edge technologies with a targeted capacity of up to 100 MW, offering ample scalability for future growth. It will be one of the largest data centre projects in the country, according to an official release on Saturday.
The project reaffirms STT GDC India's commitment to supporting the country's digital transformation and strengthens Telangana's position as a preferred destination for global technology infrastructure.
Welcoming the decision, Chief Minister A Revanth Reddy said, I ...

data centre

The upcoming AI-ready data centre campus will feature cutting-edge technologies with a targeted capacity of up to 100 MW, offering ample scalability for future growth

If it feels like TikTok has been around forever, that's probably because it has, at least if you're measuring via internet time. What's now in question is whether it will be around much longer and, if so, in what form?
Starting in 2017, when the Chinese social video app merged with its competitor Musical.ly, TikTok has grown from a niche teen app into a global trendsetter. While, of course, also emerging as a potential national security threat, according to US officials.
On April 24, President Joe Biden signed legislation requiring TikTok parent ByteDance to sell to a US owner within a year or to shut down. TikTok and its China-based parent company, ByteDance, filed a lawsuit against the US, claiming the security concerns were overblown and the law should be struck down because it violates the First Amendment.
The Supreme Court on Friday unanimously upheld the federal law banning TikTok beginning Jan 19 unless it's sold by ByteDance.
Here's how TikTok came to this juncture:
-- Mar

TikTok

Starting in 2017, when the Chinese social video app merged with its competitor Musical.ly, TikTok has grown from a niche teen app into a global trendsetter

This comes nearly seven months after an alleged security breach led to the loss of over $230 million worth of VDAs -about 45 per cent of the total crypto assets on the platform

crypto

The capital infusion will accelerate the company's growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global expansion

mutual fund

The GOVs of all the quick commerce players have been growing strongly. In case of Zomato and Swiggy, the GOV growth has been faster than their food delivery business

How Competition Law plans to regulate digital economy, plug loopholes

Commerce and Industry Minister Piyush Goyal on Thursday assured "excellent" support to startups and said domestic investors are now also recognising capabilities and the value proposition of investing in these enterprises.
As per estimates, he said Indian startups have attracted about Rs 13 lakh crore funding in the last nine years, that is about USD 150 billion.
On average, startups are receiving about USD 15 billion of funds every year and in a good year, it can go up to USD 22-25 billion, he said at the celebration event of nine years of Startup India here.
"I promise you we are going to have excellent support, now also from domestic investors who are more and more aligning themselves with the startup India vision, who are more and more understanding the capabilities of young India and they are recognising the value proposition that you bring to the table," he said.
He added that funding instruments like the Fund of Funds Scheme (FFS), which is administered by SIDBI and financed

Piyush Goyal, Union Minister for commerce and industry

On average, startups are receiving about $ 15 billion of funds every year and in a good year, it can go up to $ 22-25 billion, he said at the celebration event of nine years of Startup India here

The hospitality giant has cash and cash equivalent of Rs 1,500 crore

Anil Chadha

He talks about why this quarterly decline is not indicative of a slowdown in demand, and how TCS is positioning itself as an AI-first organisation

Milind Lakkad, chief human resource officer (CHRO)

There may not be any major changes in direct taxation, given that simplification has already been carried out in recent years

Vetri Subramaniam, Chief Investment Officer, UTI AMC

Modern lending ecosystems now have access to richer data through alternate data sources such as Account Aggregators (AA)

Joydip Gupta, head of Asia Pacific at Scienaptic AI

At the ongoing Bharat Mobility Global Expo, BYD unveiled the premium SUV Sealion 7 for the Indian market

BYD Sealion

Agarwal talks about the new product, alternate fuels plans, and export roadmap

Shenu Agarwal, MD & CEO, Ashok Leyland

Says he expects a fall in the cost of funding after the acquisition amid stronger capital position and better credit rating

Ravi Subramanian, managing director (MD) and chief executive officer (CEO), Truhome Finance

He highlighted shifting demand dynamics, uncertainty, and the evolving role of generative artificial intelligence (GenAI)

C Vijayakumar, CEO & MD,  HCLTech

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