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

Welspun Corp on Monday said the company has kicked off a USD 100-million expansion plan to double the capacity of its Little Rock facility in the US to 3.5 lakh tonnes.
The unit's present manufacturing capacity is 1.75 lakh tonnes and the expansion project is expected to be executed by March 2026, the company said.
Its step-down subsidiary Welspun Tubular LLC on Friday conducted the groundbreaking ceremony for the expansion of its high-frequency induction welding (HFIW) pipe manufacturing facility in Little Rock, Arkansas, US, Welspun Corp said.
The expansion represents a USD 100-million investment to expand and upgrade the company's line pipe portfolio in the US and expected to add an additional 175 jobs at the Little Rock plant.
Welspun World Chairman B K Goenka said, "We are glad to be in Little Rock to announce the expansion of our plant here which we set up back in 2007, and have successfully maintained a relationship with Arkansas region and its people."
"The Port of Little 

Welspun India

The unit's present manufacturing capacity is 1.75 lakh tonnes and the expansion project is expected to be executed by March 2026, the company said

SpiceJet on Friday said it has cleared all employee provident fund dues worth Rs 160.07 crore that were pending for over two years.
The low-cost carrier, which has been facing multiple headwinds, recently raised Rs 3,000 crore, following which it has been clearing statutory, GST (Goods and Services Tax) and other dues.
Employee provident fund dues amounting to Rs 160.07 crore, spanning over two years, have been cleared, the airline said in a release.
According to the release, since October, SpiceJet has been utilising its internal cash flows to meet its statutory obligations, including provident fund and TDS (Tax Deduction at Source) payments, the release said.
The airline has also resolved various disputes with aircraft lessors and other creditors.
Shares of SpiceJet rose 1.38 per cent to close at Rs 58.59 apiece on BSE.

Spicejet

The low-cost carrier, which has been facing multiple headwinds, recently raised Rs 3,000 crore, following which it has been clearing statutory, GST (Goods and Services Tax) and other dues

Leading communications company Dentsu India Friday said the recent ED searches against it were related to a suspected fraud done by some "third parties" and this was "proactively" reported by it to the relevant authorities.
The Enforcement Directorate had Thursday said in a press statement that it conducted raids on December 10 at multiple premises in Mumbai, Delhi and Gurugram as part of a probe in the "Suumaya-Dentsu case".
The money laundering case stems from an FIR of the Mumbai police (Worli police station) against Dentsu Communications India Private Limited and Suumaya Industries Ltd, a textile group, and its promoters and some others.
Dentsu India, in response to a PTI query, said they had, in 2021, identified "suspected fraudulent activity conducted by third parties and some of InDeed's former employees against whom criminal complaints have also been filed".
"This activity was limited to the InDeed business only. Three years ago, we proactively reported the matter to the ..

Enforcement Directorate, ED

The money laundering case stems from an FIR of the Mumbai police (Worli police station) against Dentsu Communications India Private Limited and Suumaya Industries Ltd, a textile group, and its promote

Nuvama Wealth and Investment Limited has acquired shares worth Rs 100 crore in OYO's parent firm Oravel Stays Limited at Rs 53 per share on behalf of its investors, a clutch of family offices, through a secondary market transaction, sources said.
The share sale at Rs 53 apiece translates to a valuation of USD 4.6 billion for the travel tech unicorn.
"These shares are being offered by OYO's early investors, presenting an opportunity for partial exits while potentially introducing new strategic investors to the company's cap table," a source told PTI.
A cap table (or capitalization table) is a document, like a table, that details who has ownership in a company. It lists all the securities or the number of shares including stock, convertible notes, warrants, and equity ownership grants.
According to sources, discussions are also at an advanced stage with other potential buyers, including Incred, who are exploring stake purchases in the hospitality major at prices ranging between Rs 53

OYO, Oyo rooms, Oyo app, Oyo logo

A cap table (or capitalization table) is a document, like a table, that details who has ownership in a company. It lists all the securities or the number of shares including stock, convertible notes

JP-Morgan-backed fintech company In-Solutions Global (ISG) has secured full authorisation as a payment aggregator under the Reserve Bank of India's regulatory framework.
The approval further empowers ISG to streamline digital payments for merchants across various sectors, ensuring fast, secure, and reliable transactions while advancing financial inclusion, the fintech said in a release.
The company currently processes over 28 billion transactions annually, serving more than 70 per cent of banks in India.
Adelia Castelino, Managing Director, said: "It strengthens our position as a trusted partner, enabling us to power enterprises and SMBs with cutting-edge, scalable payment solutions."
The company further said the licence complements ISG's growing portfolio, including its prepaid payment instrument (PPI) licence, enabling it to offer an integrated suite of payment solutions spanning online platforms, retail transactions, transit payments, and more.
"This regulatory approval positio

JP Morgan

The company further said the licence complements ISG's growing portfolio, including its prepaid payment instrument (PPI) licence, enabling it to offer an integrated suite of payment solutions spanning

Lithium-ion battery recycling and refurbishing firm LICO Materials on Friday announced the inauguration of a battery recycling facility in Bengaluru and said it will invest Rs 250 crore in its downstream hydrometallurgy plant in next two-three years.
The 4 GWh per annum in-feed capacity plant in Bengaluru will address the challenges of securing a stable supply of critical materials and contribute to India's ambition of achieving 30 per cent electric vehicle (EV) adoption by 2030, LICO said.
The company said it aims to scale up capacity at the facility to 10 GWh in the next 3-4 years.
With India's EV industry expected to grow by 250 per cent and energy storage sector to reach 42GW by 2032, recycling of used batteries will play a crucial role in recovering critical minerals to support the battery circular economy, according to the company.
"The new facility marks a significant milestone in our journey to redefine lithium-ion battery recycling and repurposing in India. As we scale up 

lico materials Inauguration

With India's EV industry expected to grow by 250 per cent and energy storage sector to reach 42GW by 2032, recycling of used batteries will play a crucial role in recovering critical minerals

The Sri Lankan government wants to see the deep-water container terminal project at the Colombo port go ahead and has no issue with the Adani-led conglomerate using its own resources to fund it, ports minister Bimal Rathnayaka has said.
In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy.
It is a very important project for revenue generation for the port, we are keen to see it going ahead," Rathnayaka told reporters during a tour of the port on Thursday.
He said the Adani group's decision to reject funding from the US International Development Finance Corporation (DFC) was its own and Sri Lanka had no issues with it.
The DFC, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container termi

Sr Lanka, Sri lanka flag

It is a very important project for revenue generation for the port, we are keen to see it going ahead

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

Startup funding

Spacetech startups are leveraging small satellites, cost-effective launch solutions, and the use of AI to introduce affordable technology that has a wide range of applications

Chandrayaan 3 replica at a startup and tech event in Bengaluru. (Photo/Peerzada Abrar)

Spacetech startups

Aurm, a Bengaluru-based firm brings technology equipped lockers to gated societies, offering 24/7 access, military-grade security, and even insurance coverage

Aurm’s technology equipped personal locker facility as seen in Adarsh Palm Retreat Bellandur Bengaluru.

Aurm

Available by invitation only, Swiggy One BLCK is offered at a launch price of Rs 299 for a three-month plan

Food and grocery delivery firm Swiggy has marginally narrowed its consolidated net loss in the second quarter of financial year 2025 (Q2FY25) to Rs 625.5 crore from Rs 657 crore a year ago. But sequentially, the loss was up as the firm had reported a

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

RPG Group company CEAT has entered into an agreement with Michelin to acquire the Camso brand's off-highway construction equipment bias tyres and tracks business

Arnab

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

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

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