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

Deal part of KKR's to support 'innovative and disruptive companies' in Asia

The company's current cargo handling capacity is 170 mtpa

Electronics company Micromax and Taiwan's storage chip company Phison have set up a joint venture, MiPhi, to design and manufacture artificial intelligence-enabled storage chipsets modules locally, a senior official of the Indian firm said.
Micromax Informatics Co-Founder Rahul Sharma told PTI that the company has started production at its Noida facility.
"Phison is a leader in NAND controller and NAND storage technologies. We have partnered with them to set up a joint venture in India in which Micromax will have 55 per cent stake and 45 per cent will be with Phison," Sharma said.
He said that the firm will focus on designing storage chipsets for servers which is a very important element for any country from both security and strategic perspective.
"With this venture, we aim to bring down the cost of GPU by one-tenth... the lowest per token cost in the world. This will help us in disrupting the AI landscape not only in India but also in specific agreed-upon regions," Sharma said.


Semiconductor chips

Micromax Informatics Co-Founder Rahul Sharma told PTI that the company has started production at its Noida facility

Billionaire Gautam Adani's conglomerate on Thursday unveiled a new version of its 'Hum Karke Dikhate Hai' campaign as it looks to bounce back from the damning indictment by the US authorities in an alleged bribery case.
"Building on the success of its previous edition, this multi-media, multi-platform campaign moves beyond the conventional corporate strategy of emphasizing statistics and figures to focus on inspiring human-interest stories. These narratives showcase the profound, positive impact of Adani's infrastructure projects on the lives of millions of Indians," the group said in a statement.
On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against chairman Gautam Adani, his nephew Sagar Adani and key executive Vneet Jaain.
The charges relate to allegations of securities fraud, wire .

Adani group

The charges relate to allegations of securities fraud, wire fraud and violation of the SEC guidelines

SpiceJet on Thursday said aircraft lessor Genesis will acquire a stake worth USD 4 million in the airline as part of settling a more than USD 16 million dispute.
For the settlement, the airline will also pay USD 6 million to Genesis.
The budget carrier, which recently raised Rs 3,000 crore amid financial headwinds, has been settling various disputes with lessors and other entities.
Subject to the settlement terms being satisfied, SpiceJet said both parties have agreed to withdraw all ongoing litigations and disputes related to this matter at the appropriate forums.
In a release, the airline said it has reached an amicable settlement with Genesis, resolving their over USD 16 million dispute.
'Under the agreement, SpiceJet will pay Genesis USD 6 million and Genesis will acquire USD 4 million in SpiceJet equity at a price of Rs 100 per share,' it said.
In September, Carlyle Aviation agreed to convert USD 30 million of lease arrears into SpiceJet equity at Rs 100 per share.
Earlier,

Spicejet

The budget carrier, which recently raised Rs 3,000 crore amid financial headwinds, has been settling various disputes with lessors and other entities

Tata Starbucks scales back store openings amid inflationary pressure and real estate challenges. The company remains bullish on India's cafe market, targeting 1,000 stores by 2028

Starbucks

Dhaka has been behind on payments to Adani Power since supply started in July 2023

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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