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

Ambani-owned firms, MNC subsidiaries claim top spots

Even as the earnings of listed companies in India have shot up in the post-pandemic period, sending the markets to great heights, the unlisted segment has not been far behind.

The food delivery firm will be initially launched in Bengaluru, Hyderabad, Mumbai, Chennai, Delhi-NCR, and Pune

magicpin

Hardev had alleged that Jasdev had unilaterally made changes to the trademark and moved the court to prevent its unauthorised use

Delhi High Court

Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy.
However, the company did not divulge the financial details of this equity acquisition.
In a filing, Jindal Saw said, "It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company".
The acquisition is with an objective to procure electricity at a concessional rate, the company said.
Jindal Saw further said it aims to complete the acquisition by May 31, 2025, or any other date as may be mutually decided between the parties.
It is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe and the UAE.

merger and acquisition (M&A)

Jindal Saw further said it aims to complete the acquisition by May 31, 2025, or any other date as may be mutually decided between the parties

The Competition Commission of India (CCI) on Tuesday said it has cleared Ramon Investments Pte's, an arm of Temasek Holdings, a proposal to acquire a stake in Speed JVco.
Singapore-headquartered Temasek is an investment company. As of March 2024, the sovereign wealth fund owns a Singapore Dollar (SGD) 389 billion portfolio of assets.
"The proposed combination involves the acquisition of a certain stake of the target (Speed JVco) by the acquirer (Ramon Investments Pte Ltd)," CCI said in a release.
Speed JVco, including its affiliates, provides visa outsourcing and related services -- offering visa application and consular services to governments and diplomatic missions.
The company also provides travel-related services, including facilitation of travel itineraries and hotel reservations, facilitation of travel insurance and other ancillary services, such as providing sim cards and forex, among others.
"Commission approves the acquisition of certain stake of Speed JVco S.a r.l. (Tar

Singapore-headquartered Temasek is an investment company. As of March 2024, the sovereign wealth fund owns a Singapore Dollar (SGD) 389 billion portfolio of assets

Japan's Sony will continue to invest aggressively in India, one of its most important media and entertainment global markets, with an eye on creating compelling contents, according to a senior company official.
Sony Pictures Networks India (SPNI) Managing Director and CEO Gaurav Banerjee told PTI that the company is not concerned about competition from Jio Hotstar combine but is rather looking at "working together to figure out how best to entertain India".
SPNI is a part of Japanese conglomerate Sony Group Corporation that had announced to invest USD 1.575 billion while announcing the failed merger with Zee in September 2021.
Despite the failure of its merger with Zee, the company is open to explore alternative routes to grow, although the current focus is on growing and strengthening existing business, he added.
"It (India) is one of the most significant and important markets for Sony globally and the reason for that is simple. One is this is the largest country by population ...

Sony

SPNI is a part of Japanese conglomerate Sony Group Corporation that had announced to invest $1.575 billion while announcing the failed merger with Zee in September 2021

Shares of the drugmaker rose nearly 3 per cent to $25.98 in premarket trading after the company also said it was expecting 2025 sales of its Covid-19 vaccine and drug to be consistent

Pfizer

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

Fintech has become sixth-largest UPI app, processing over 78 million transactions in November

Super.money fintech firm upi flipkart

Space Kidz may become first Indian private firm to crash-land on the moon's surface

Moon Mission

Company plans to use the funding to expand its operations, hire talent, and for brand building

Startup funding

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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