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

IndiGo has launched daily direct flights between Chennai and Penang in Malaysia on Saturday, becoming the 37th international destination for the private airliner.
The new route caters to the growing demand for travel between the two cities, offering both business and leisure travellers a convenient and affordable option, IndiGo said in a statement on Saturday.
"We are extremely pleased to further expand our network into Malaysia with the launch of direct flights from Chennai to Penang, our third destination in Malaysia, alongside Kuala Lumpur and Langkawi. With the inclusion of these flights to Penang, IndiGo will now operate 28 weekly flights to Malaysia from 2 cities in India" IndiGo Head of Global Sales Vinay Malhotra said in a statement.
At the inaugural ceremony, Chennai Airport director C V Deepak handed over the boarding pass to the first passenger on Saturday.
"Your gateway to Malaysia's crown jewel! The inaugural flight (6E1045) of IndiGo from Chennai to Penang was marked 

indigo airlines, indigo

The new route caters to the growing demand for travel between the two cities, offering both business and leisure travellers a convenient and affordable option

The Andhra Pradesh government and EdTech company PhysicsWallah have signed an agreement to set up a University of Innovation (UoI) at an investment of up to Rs 1,000 crore.
The UoI is set to emerge as the first institute of eminence in the state and aligns with Chief Minister N Chandrababu Naidu's aim to provide the state's youth with education in Artificial Intelligence (AI) and other emerging technologies.
We are committed to investing up to Rs 1,000 crores by GSV Ventures - US and other investors, the purpose is to create an institution that combines academic learning with industry relevance. The UoI will help learners with the skills they might need in a constantly evolving job market, in an attempt to foster entrepreneurship and innovation, said PhysicsWallah founder and chief executive Alakh Pandey in a press release on Friday.
The UoI will work towards blending academic excellence, innovation, and research, focusing on addressing key challenges in education and ...

PhysicsWallah, PW, edtech

The UoI is set to emerge as the first institute of eminence in the state and aligns with Chief Minister N Chandrababu Naidu's aim to provide the state's youth with education in AI, other technology

Tata Steel Netherlands will face fines of almost €27 million ($28 million) if it doesn't take measures at its coke plaBy Charlotte Hughes-Morgan

Tata Steel Netherlands

During the insolvency process, the resolution professional had admitted the claims of these four entities as lenders

Supreme Court, SC

Carraro India's initial public offer got subscribed 9 per cent on the first day of share sale on Friday.
The initial share sale of the manufacturer of transmission systems for off-highway vehicles and other agricultural and construction equipment, received bids for 11,24,277 shares against 1,30,98,803 shares on offer, as per NSE data.
Retail Individual Investors (RIIs) portion mopped up 15 per cent subscription while the category for non-institutional investors received 6 per cent subscription.
Carraro India Ltd on Thursday said it has garnered Rs 375 crore from anchor investors.
The issue, with a price band of Rs 668-704 per share, will conclude on December 24.
Carraro India's IPO is completely an offer for sale (OFS) of shares worth Rs 1,250 crore by Carraro International SE, with no fresh issue component, according to the red herring prospectus.
Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than the ...

IPO rush, market

Carraro India's initial public offer got subscribed 9 per cent on the first day of share sale on Friday.

Vedanta Resources Limited (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has received a rating upgrade from S&P Global Ratings.
The agency upgraded VRL's corporate family rating from 'B-' to 'B'.
With this, VRL's rating by S&P has gone up by five notches from 'CC' in December last year.
"We raised our issuer credit rating on Vedanta Resources Ltd. to 'B' from 'B-' and raised our issue ratings on the company's guaranteed bonds to 'B-' from 'CCC+'," the rating agency said.
S&P said in its report that the upgrade comes after VRL obtained the minimum acceptances needed to close its consent solicitation exercise for 2028 bonds.
"The stable outlook reflects our expectation that refinancing risks will be more manageable after the transaction given a newfound funding flexibility and improved capital market access," the agency said in its report.
"The stable outlook also reflects the company's sound underlying operations, which should support internal cash .

Vedanta

VRL's focus on deleveraging has reduced debt by USD 4.7 billion in the past two years, Chairman Anil Agarwal said in a letter to shareholders in November this year

The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023

fine penalty

Till date, Namma Yatri said it has generated over Rs 1,100 crore in driver earnings, improving their financial stability and livelihoods

Namma Yatri, the mobility app, on Tuesday announced the launch of cab services in Bengaluru

Mumbai unicorns saw a net decrease of 7,024 employees. Pune and Hyderabad too recorded a decrease in their overall workforce numbers

unicorn startup

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

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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