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

Bengaluru-based gold jewellery firm Rajesh Exports Ltd, which is under regulator Sebi's scanner over suspected revenue inflation of up to Rs 15.15 lakh crore for the 2020-21 to 2024-25 period, on Wednesday said it will fully cooperate with the fresh forensic audit ordered by the market watchdog and not challenge the interim order.
In an interview with PTI, company founder and chairman Rajesh Mehta denied allegations that Rajesh Exports Ltd (REL) had impeded the audit process and said the company had been forthcoming with investigators throughout.
"I would never agree to the fact that certain relevant documents have not been submitted by us. We have submitted everything we were asked for. Sebi has not found something; maybe we have missed out on something. All that will be reconciled now," Mehta said.
Sebi, in an interim order, has held that gold refiner and jewellery manufacturer REL allegedly inflated its consolidated revenues by Rs 15.15 lakh crore over five years by attributing .

Rajesh Exports

Rajesh Mehta denied allegations that Rajesh Exports Ltd (REL) had impeded the audit process and said the company had been forthcoming with investigators throughout

Fourth Partner Energy (FPEL) said on Wednesday it has partnered with Meta Platforms Inc. on 88 megawatts alternating current (MWac) of renewable energy projects across India, as the technology company seeks to advance its clean energy and emissions reduction goals in the country.
Under the agreement, FPEL will own and operate a portfolio of solar and wind projects across the states of Tamil Nadu, Karnataka, Maharashtra and Uttar Pradesh.
Meta will purchase 100 per cent of the environmental attributes associated with the projects, FPEL said in a statement.
The deal supports the addition of renewable energy capacity to India's power grid and forms part of Meta's broader strategy to align its operations with clean energy sources.
"These projects with Fourth Partner Energy represent a commitment to India's clean energy ecosystem, helping to bring new renewable energy capacity onto the grid and address Meta's value chain emissions in the region. This is consistent with our broader goal

Energy, Solar energy, Wind Energy

Meta will purchase 100 per cent of the environmental attributes associated with the projects, FPEL said in a statement

Tata Consumer Products Chairman N Chandrasekaran on Wednesday said the company sees significant long-term growth potential for Tata Starbucks in India and believes the coffee chain could eventually scale up to around 8,000 stores in the country.
Terming the Starbucks QSR chain business as "a very high-potential business", Chandrasekaran said it has become EBITDA positive in FY26.
Discussions with the joint venture partner, Starbucks Corporation, indicate a substantial headroom for expansion in the Indian market, he said while addressing shareholders of the Tata group FMCG arm.
"We have had discussions with our partner, and we think eventually the company can have 8,000 stores in India. We are continuing to add 50 to 100 stores," said Chandrasekaran, who is also Chairman of Tata Sons.
Tata Starbucks, a 50:50 joint venture between Tata Consumer Products Ltd (TCPL) and US-based Starbucks Corporation, operates the QSR chain of Starbucks cafes in India.
In its latest annual report, TCP

Starbucks

Terming the Starbucks QSR chain business as "a very high-potential business", Chandrasekaran said it has become EBITDA positive in FY26

Nuvama Wealth Management Ltd on Wednesday said it has received final approval from markets regulator Sebi to commence mutual fund operations through its asset management arm, Nuvama Asset Management.
The approval paves the way for the company to establish its mutual fund business and expand its asset management offerings.
Nuvama said its asset management company will initially seek regulatory approvals to launch investment products under the Specialised Investment Fund (SIF) framework, followed by a broader range of mutual fund products over time.
In a statement, the company said the development strengthens its position as an integrated wealth and asset management platform and will enable it to offer a wider range of investment solutions across investor segments.
"Sebi's approval to establish our mutual fund business is another important building block in Nuvama's integrated wealth and asset management platform," Nuvama Group Managing Director and Chief Executive Officer Ashish Keh

Nuvama, Nuvama group

The approval paves the way for the company to establish its mutual fund business and expand its asset management offerings

Unicorn Infosolutions, iPhone maker Apple's biggest premium retail partner in India, plans to open 50 new stores and increase revenue in the range of Rs 5,500 crore to Rs 6,000 crore in the next three years, a top official of the company said.
Unicorn Infosolutions, Director, Baljinder Paul Singh, said the company is bullish on the growth of Apple and demand for its product in India, which remains unabated by rising memory chip prices.
"The growth of the base of our customers is strong, and the aspiration to buy Apple is strong. Since we are opening a lot of stores in tier 3-4 cities where people haven't got a chance to see a demo of an Apple product, there is a huge potential for all the residents in tier 3 and 4 cities," he said on the occasion of the opening of Unicorn's 100th store here.
Unicorn opened its very first single-brand store in Ahmedabad in 2006 and thereafter it has been expanding its outlets across North and West India.  "
"Being the largest sales and service partn

Apple, iphones

Unicorn opened its very first single-brand store in Ahmedabad in 2006 and thereafter it has been expanding its outlets across North and West India"

Tata Consumer Products chairman N Chandrasekaran said businesses are focusing on resilience and productivity as global disruptions reshape markets and consumer behaviour

N Chandrasekaran

Bharti Airtel has rebranded its Priority Postpaid service, which triggered net neutrality debate, as Fast Lane service, extending the promise of faster connectivity to postpaid users, the company said on Wednesday.
The company has made changes on the website, and signals on mobile phones are also displaying the "Fast lane" name now.
When asked if the company has shelved the Priority Postpaid plan, the company spokesperson denied the development but acknowledged the rebranding of the service as Fast Lane.
"There is no question of withdrawal of our new post-paid plan... Our launch campaign has ended. And our descriptor to signal what we are doing  'Fast Lane' - captures the essence of what we offer. Our postpaid users continue to remain on a slice.  So, every user who chooses our postpaid plan and has a 5G-capable device gets an enhanced experience. Faster speeds, unlimited data, and exceptional service," the spokesperson said.
The spokesperson said that network slicing used for ...

Airtel

Airtel launched "Priority Postpaid" on May 19, which promises consistent speed even in crowded markets for postpaid customers

Prasanna Kumar walked away from the corporate life to solve the supply chain problem he saw as a child and built VilCart - an e-com startup for 100,000 kirana stores across rural South India

(On left ) C.Prasanna Kumar, Founder & CEO, VilCart at one of the warehouses

Nine Indian startups, including Dhruva in the space business and Varaha in the climate arena, have made it to the World Economic Forum's latest list of new technology pioneers.
Releasing the list, the WEF said these 100 early-stage startups from 23 countries are building the infrastructure for the next era of AI and are developing breakthrough technologies with the potential to transform industries and societies.
"What sets this year's cohort apart is its focus on enabling the next era of Artificial Intelligence (AI). While recent advances have centred on models and consumer applications, many of the Tech Pioneers are building the software and physical infrastructure needed to AI at scale," the WEF said.
The cohort also reflected the expanding geographies of frontier innovation.
India has contributed nine companies, many focused on deep-tech and space innovation, while the Republic of Korea records its strongest representation to date across AI, robotics and quantum ...

World Economic Forum, WEF

India has contributed nine companies, many focused on deep-tech and space innovation, while the Republic of Korea records its strongest representation to date across AI, robotics and quantum technolog

The company's first indigenously designed server platform is aimed at reducing costs, improving performance and strengthening technology self-reliance

ZOHO

The health-tech startup plans to use the funds to expand its clinic network, strengthen technology capabilities and scale its integrated paediatric care model

startup funding investment

Alvarez & Marsal executives Steve Wallace and Himanshu Bajaj discuss AI adoption, return on investment, ethical safeguards and growth opportunities across global markets

Alvarez & Marsal’s (A&M’s) Managing Director and Chief Operating Officer Steve Wallace, and the company’s India head and MD Himanshu Bajaj, who also leads A&M’s India global capability centre

Alvarez & Marsal's (A&M's) Managing Director and Chief Operating Officer Steve Wallace, and the company's India head and MD Himanshu Bajaj, who also leads A&M's India global capability centre

Bank of India expects up to $1 billion in FCNR-B inflows under RBI's special window, while maintaining strong credit growth and preparing for ECL norms

Rajneesh Karnatak, MD and CEO, Bank of India

Rajiv Bajaj has informed the company that he will not seek re-election at the annual general meeting (AGM) scheduled for July 31

rajiv bajaj baja auto ceo

Canara Bank expects ₹1,000-2,000 crore in FCNR(B) inflows, aims to boost CASA deposits and reduce reliance on bulk deposits under its new CEO

Shri. Brajesh Kumar Singh, MD & CEO, Canara Bank

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

Companies News: Get latest company news, company results, company interviews, company financials, company analysis, company disclosure, corporate news, company announcements at Business Standard.

Company News: Company Business News, Indian Companies News, Company Analysis, Corporate Industry News

Get latest company news, company results, company interviews, company financials, company analysis, company disclosure, corporate news, company announcements at Business Standard.

Companies

Start Ups

People

Results Corner

Result Calendar

Brokerage Reports

Result News