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

Press Trust of India

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

Business Standard

E-commerce firm Meesho has received an income tax demand notice of around Rs 1,500 crore, including interest, which the company plans to contest, a recent company filing said.
Meesho received the notice on March 6 for assessment year 2023-24.
"The Assessment Unit of Income Tax Department has raised a tax demand aggregating to Rs 14,99,73,82,840, including applicable interest," the filing said.
The filing said that the demand order is based on certain additions and adjustments to the income reported by the company.
"The company is currently evaluating the Assessment Order and does not concur with the observations and adjustments made in the Assessment Order. The company believes that it has adequate legal and factual grounds to contest the same and is taking necessary steps to protect its interest," Meesho said.
The e-commerce firm said that a similar demand order was issued for the assessment year 2022-23 as well, which it disclosed in detail in the prospectus filed on December 5,

Meesho

The filing said that the demand order is based on certain additions and adjustments to the income reported by the company

Akshara speech-to-text and Ragini text-to-speech models aim to power multilingual enterprise conversations, supporting regional languages and telephonic interactions across various sectors

NoBroker

Trust dominance and a history of family feuds test Tata's ownership structure as pressure grows to list the holding company as regulatory and governance pressures mount

Tata Sons' Chairman Natarajan Chandrasekaran

Tata Sons Chairman Natarajan Chandrasekaran

Bloomberg

Industry examines oversight and risks tied to programme managers

Rishi Gupta, Managing Director & CEO,  Fino Payments Bank

Dilip Buildcon aims to become near net debt-free by FY28, driven by execution-led cash flows, mining contributions, and InvIT monetisation as order inflows and project awards pick up

Dilip Buildcon (Photo: Wikimedia)

Rishi Gupta's return to office subject to NRC, board reassessment and RBI view

Ketan Merchant is currently the chief financial officer of Fino Payments Bank

Rising data consumption and the rollout of smart cities will drive demand for data centres in India, even as their energy use remains a small share of the overall power ecosystem

Nirupa Chandar, senior vice president of secure power, data centres and power systems at Schneider Electric

Arnya Real Estates Fund Advisors raises ₹1,030 crore in the first close of its real estate equity fund with Supreme Universal to back redevelopment-led housing projects in Mumbai and Pune

Real estate

There is a need to relax criteria for India's PLI scheme for automobiles to enable electric vehicle start-ups to benefit and contribute to the country's green mobility journey, according to Euler Motors Founder & CEO Saurav Kumar.
The high ceiling for revenue and investments outlined in the PLI for the auto sector has meant that a company like Euler Motors, despite being among the top players in the electric small trucks and three-wheeler cargo segment, has not been able to participate in the scheme, Kumar told PTI in an interview.
As per the eligibility criteria of the auto PLI scheme, an OEM must have a minimum global group revenue of Rs 10,000 crore and invest in fixed assets worth Rs 3,000 crore.
"That unfortunately did not incentivise start-ups like us who are equally investing in this space and pushing the technology and R&D at the forefront," he lamented.
In terms of products, Euler Motors has both electric four-wheeler and three-wheeler commercial cargo vehicles, which

electric vehicle

In terms of products, Euler Motors has both electric four-wheeler and three-wheeler commercial cargo vehicles, which are covered under the PLI scheme

Founded by Practo's Shashank ND with Arpit Garg and Anshul Khandelwal, Cent combines advanced imaging, 120+ biomarkers and AI to detect cancer and cardiac risks before symptoms appear

Cent, AI cancer detection, preventive health intelligence, Shashank ND, Practo founder, early detection platform, healthcare AI India, cancer screening, cardiovascular disease India

Round led by Bertelsmann India Investments with participation from Fireside Ventures, Spark Growth Ventures, Bikaji Family Office, FE Securities

Funding, Fund raising, Funding round

Jay Chaudhry warns that hijacked Artificial Intelligence agents could become the next major cybersecurity risk for enterprises

Jay Chaudhry, Zscaler founder, billionaire

Marking International Women's Day, Adani Group chairman Gautam Adani on Sunday paid tribute to the women who shaped his life and journey, saying the foundations of his success were built on the strength, values and support he drew from family.
Writing on LinkedIn, he reflected on the influence of his mother Shantaben Adani, recalling how stories from Indian epics such as the Ramayana during his childhood instilled values of courage, sacrifice and duty.
He said he later understood the depth of those lessons when, at the age of 16, he left home for Mumbai to build his own career, recalling the strength it must have taken for his mother to allow him to step into an uncertain future.
Adani also acknowledged the role of his wife Priti Adani, who left a career in dentistry to lead the Adani Foundation, which he said now works across 22 states in India in areas including education, healthcare and livelihoods and has touched more than 10 million lives.
He praised daughters-in-law Paridhi .

Gautam Adani

Adani said the story of Kaushalya from Ramayana, narrated by his mother, has stayed with him

Siemens Limited MD Sunil Mathur spoke about AI adoption, opportunities in India's data centre market, and the outlook for industrial technology

Sunil Mathur, managing director and chief executive officer, Siemens Limited

Star Health sees 50% surge in demand after GST waiver on health policies as it targets ₹30,000 crore premium by FY28 and calls for a healthcare regulator

Anand Roy, managing director and chief executive officer, Star Health Insurance

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

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

Pham Sanh Chau

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

Yogesh Mathur, Director-Sales & Marketing, HMSI

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

JSW joint managing director and chief executive officer Jayant Acharya

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

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