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

Apart from project financing, the bank will also target sectors such as real estate, rental discounting and data centres for lending opportunities, Chandra said

Ashok Chandra, CEO & MD, Punjab National Bank (PNB)

In Asia, HSBC India's PBT is the second highest after Hong Kong. In the half year ended June 30, 2024 (H1CY24), the India arm of the UK-headquartered bank had reported a PBT of $798 million

HSBC

The insurance premium for aircraft is expected to go up as there are elements of the geopolitical situation, inflationary pressures and accidents, IndiGo CEO Pieter Elbers said on Wednesday.
The country's largest airline, which is in discussions on finalising the insurance premiums, has a fleet of over 400 planes, and the fleet is expanding.
During a virtual interaction post announcing the June quarter results, Elbers said the insurance premiums always follow some of the trends in the market and "we do expect them to go up and we're still finalising some of the discussion in what magnitude that would be".
Without mentioning the possible quantum of increase in premiums, he said there are different elements coming together, including the entire geopolitical situation, and there are overall inflationary pressures.
"And then clearly, when accidents are happening, and not only the one which happened in India, but on the global scale, insurers operate on the global scale. They look at ..

indigo airlines, indigo

The country's largest airline, which is in discussions on finalising the insurance premiums, has a fleet of over 400 planes, and the fleet is expanding

IOB restores old platform after technical failure in revamped system developed by Infosys subsidiary EdgeVerve disrupts services and login access for customers

Indian Overseas Bank, IOB

DMart operator plans faster store rollout with focus on north India and Tier-II cities, eyes 20% expansion and long-term potential of up to 1,900 outlets

Shares of Avenue Supermarts (DMart) have gained about 5 per cent over the past week on better-than-expected June quarter (Q1FY25) performance, hopes of a recovery in discretionary demand, and margin gains going ahead.

Proposed $4.5 billion acquisition may open mature markets for Tata Motors' CV business but raises concerns about duplication and pressure on financials

The deal between Tata Motors and Italian truck maker Iveco is worth about $4.4 billion

For Tata Motors, whose CV division currently earns nearly 90 per cent of its ₹75,000 crore revenue from India, the acquisition represents a strategic leap into new geographies

Strong demand for electric SUVs boosts Mahindra's EV business to Rs 111 crore EBITDA in Q1FY26; company awaits PLI certificate and ramps up production gradually

Mahindra Funster  EV concept which was launched in Auto Expo 2020

The growth numbers came as Elcid Investments, a Mumbai-headquartered non-banking financial company, invested ₹ 7.5 crore in the firm as part of its ongoing funding round

Zepto

NCLT Ahmedabad admits BluSmart Mobility into insolvency after the startup defaulted on ₹1.28 crore debt; interim resolution professional appointed to manage assets

BluSmart funding news, BluSmart revival plans, climate funds investing in BluSmart, BluSmart electric mobility investment, BluSmart Eversource Capital deal, BluSmart distress funding, BluSmart EV ride hailing, clean energy investment India, BluSmart

SoftBank-backed Lenskart plans to raise Rs 2,150 crore through IPO to expand CoCo stores, tech infrastructure, and branding amid rising Asian demand for prescription eyewear

lenskart

Drizz, founded by ex-Amazon and Coinbase engineers, uses AI and computer vision to enable code-free mobile app testing and has raised $2.7 million to enhance its platform

Drizz Founders (L-R) - Partha Mohanty, Yash Varyani, Asad Abrar

We target that our recoveries should be substantially higher than the slippages, says K Satyanarayana Raju

Canara Bank MD

Raveendran announces plans to seek $2.5 billion in damages

Byju's

Currently chief operating officer, Jejurikar will succeed Jon Moeller as chief executive officer and become the first Indian to lead Procter & Gamble in its history

Shailesh Jejurikar (left) with his mother Veena Jejurikar (center) and Rajesh Jejurikar, ED and CEO, auto and farm sectors, M&M | Source: Jejurikar family

Chief operating officer of consumer goods conglomerate will succeed Jon Moeller

The scooters will be manufactured by its EV subsidiary, Kinetic Watts and Volts Ltd (KWV).

Mr. Ajinkya Firodia, Vice Chairman, Kinetic India

We are conducting a saturation drive for inoperative PMJDY accounts, meeting customers one-on-one to encourage them to operate their accounts, says Ashwani Kumar

Ashwani Kumar, Managing Director and Chief Executive Officer (MD&CEO), UCO Bank

VinFast is committed to making EVs more accessible while contributing to economic growth through investment and local job creation.

Pham Sanh Chau

Two-wheeler demand likely to remain tepid until festival season, says HMSI

Yogesh Mathur, Director-Sales & Marketing, HMSI

Q1 was disrupted by plant maintenance shutdowns at Dolvi and Bhushan Power and Steel (BPSL), which had an impact on our costs both for capex and operations

JSW joint managing director and chief executive officer Jayant Acharya

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