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

Top execs plan to go on hiring spree, expect govt to offer tax incentives

Consumer spending, cash, money

In 2024, Bigbasket Now demonstrated its ability to deliver not only staples but also a wide range of products across categories

bigbasket

Hyperlocal e-commerce firm Magicpin's top management, led by CEO Anshoo Sharma, went out on bikes to deliver food to customers on New Year's Eve, according to a company's post on a social media platform.
The deliveries were done in Delhi NCR, Mumbai and Bangalore.
"It's the busiest night of the year, and our Leadership will hustle on the ground with our delivery partners. While some operate from the warmth of cosy offices and war rooms; we will End and Start our Year meeting our customers. Looking forward to the hustle and rush this New Year's Eve and distributing smiles all the way from 2024 to 2025," Magicpin said on X.
The photo posted by the company featured Sharma, Enterprise business CXO Naman Mawandia, Enterprise & Food Delivery business Director Suyash Jaiswal, Sales and Dining out, AVP, Vinod Jain, Enterprise Business Director Indrajit Nair and Finance AVP Tarun Kumar.
The company recently forayed into quick commerce for food delivery with the launch of its magicNow brand

magicpin

The company recently forayed into quick commerce for food delivery with the launch of its magicNow brand that will work for over 2,000 food brands and 1,000 merchants to start with

Easy Trip Planners promoter and co-founder Nishant Pitti on Tuesday divested a 1.4 per cent stake in the company for Rs 78 crore through an open market transaction.
Ease Trip Planners Ltd is the parent firm of online travel company EaseMyTrip.
According to the bulk deal data available on the National Stock Exchange (NSE), Nishant Pitti offloaded 4.99 crore shares or 1.41 per cent stake in Easy Trip Planners.
The shares were disposed of at an average price of Rs 15.68 apiece, taking the transaction value to Rs 78.32 crore.
After the transaction, Pitti's holding in Easy Trip Planners has come down to 12.8 per cent from 14.21 per cent. Also, the combined promoter stakeholding in the company has also declined to 48.97 per cent from 50.38 per cent.
Meanwhile, Arunaben Sanjaykumar Bhatiya picked up 2.40 crore shares of Easy Trip Planners at an average price of Rs 15.86 per piece.
This took the deal value to Rs 38.06 crore.
Details of the other buyers of Easy Trip Planners' shares coul

After the transaction, Pitti's holding in Easy Trip Planners has come down to 12.8 per cent from 14.21 per cent. Also, the combined promoter stakeholding in the company has also declined to 48.97%

Fair trade regulator CCI on Tuesday cleared the World Bank's IFC, Asian Development Bank (ADB) and German government's DEG proposal to acquire a stake in Fourth Partner Energy.
IFC -- a member of the World Bank Group -- is the largest global development institution focused on the private sector in emerging markets.
"Commission approves the acquisition of certain shareholding of Fourth Partner Energy Pvt Ltd jointly by International Finance Corporation, Asian Development Bank and DEG - Deutsche Investitions - und Entwicklungsgesellschaft mbH," the regulator said in a post on X.
Fourth Partner Energy Ltd (FEPL) is India's leading renewable energy company focusing on building and financing renewable energy projects.
In August, global impact investors IFC, ADB and DEG announced an investment of USD 275 million into India's leading renewable energy solutions platform FPEL.
The consortium's investment will infuse capital to fund FPEL's business expansion plans which include a target ...

Fourth Partner Energy Ltd (FEPL) is India's leading renewable energy company focusing on building and financing renewable energy projects

Four Kirloskar companies on Tuesday said they are preparing to legally challenge a letter by markets regulator SEBI asking them to disclose the deed of family settlement that was signed by members of the Kirloskar family on September 11, 2009.
In separate regulatory filings, Kirloskar Ferrous Industries Ltd (KFIL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd and Kirloskar Oil Engines Ltd maintained they are not bound by deed of family settlement (DFS) nor does it have any impact or create any restriction or liability on them.
SEBI in a letter dated December 30, 2024 advised the companies to disclose the DFS, entered into amongst the members of the Kirloskar family in their personal capacity, under the SEBI listing obligations and disclosure requirements regulations, they said.
Kirloskar siblings, with Sanjay (Kirloskar Brothers Ltd Chairman and Managing Director) on one side and Atul and Rahul on the other, have been in a feud since 2016 over the DFS for the asse

SEBI

Sebi in a letter dated December 30, 2024 advised the companies to disclose the DFS, entered into amongst the members of the Kirloskar family in their personal capacity

The National Bank for Financing Infrastructure and Development (NaBFID) has invested Rs 745 crore in long-term bonds issued by NDR InvIT, the company said on Tuesday.
NDR InvIT is an Infrastructure Investment Trust managed by NDR InvIT Managers and sponsored by NDR Warehousing Private Limited.
These 15-year bonds, rated AAA/Stable by India Ratings (FITCH) and CARE, underscore NDR InvIT's key role in advancing India's warehousing and industrial parks sector, NDR said.
The funds will accelerate NDR InvIT's strategic growth plans, it added.
With demand for robust logistics infrastructure soaring due to rapid manufacturing growth and the exponential rise of e-commerce, this investment positions NDR InvIT as a driving force in bridging critical infrastructure gaps, it noted.
The investment comes at a time when India's logistics and warehousing sectors are poised for exponential growth, it said.
According to a recent report by Motilal Oswal, the domestic logistics market, valued at Rs 

Bond market

NDR said that these 15-year bonds, rated AAA/Stable by India Ratings (FITCH) and CARE, underscore NDR InvIT's key role in advancing India's warehousing and industrial parks sector

Zepto CEO Aadit Palicha shared interesting insights on user orders via social media

Quick commerce (Q-comm) platforms are bringing upon a rapid change in the behaviours of online shoppers, with 31 per cent of buyers relying on the fast delivery option for grocery needs, according to a new study. online grocery kirana

This development follows the resignation of Zepto's chief human resource officer, Martin Dinesh Gomez, earlier this month

Zepto

CAIT national president BC Bhartia accused quick commerce platforms like Zomato-owned Blinkit, Instamart (Swiggy), and Zepto of misusing funds received through foreign direct investment

4 in 10 app taxi users also confirm experiencing drip pricing, according to the survey, which  said price manipulation based on user information was experienced by the consumers

Ola, Cab, Ola cab

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

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

Debecker spoke about Cloud services and artificial intelligence and how Wipro is preparing to be an AI-powered firm

JO DEBECKER, managing partner and global head of Wipro FullStride Cloud

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

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