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

Ola Electric's board will consider a rights issue on September 28. The company has not disclosed its size or use of proceeds as its electric two-wheeler market share falls

Ola Electric, OLA

Zee Group founder Subhash Chandra has challenged an NCLT order restraining him from alienating assets in proceedings over his proposed Rs 6.25-crore repayment plan

Subhash Chandra, chairman of Essel Group and founder and chairman emeritus of Zee Entertainment Enterprises

Fujifilm India is exploring supply deals with chipmakers and local partners as it invests about ₹800 crore in a semiconductor materials plant in Dholera

Predictions that artificial intelligence could lead to catastrophic outcomes are overstated, and a global pause in AI development is unlikely, Zoho co-founder Sridhar Vembu said on Wednesday, while urging India to keep its strategic options open and invest heavily in foundational R&D across sectors.
Vembu said India should pursue an independent approach to AI, building on partnerships without becoming locked into the emerging technology rivalry between the United States and China.
"We must be friends with everybody, enemies with nobody and keep our options open," Vembu, Chief Scientist and Co-founder, Zoho, said in an interview with PTI.
Vembu argued that any big tech company genuinely wanting to slow AI development is free to do so on its own; nothing stops one player from pacing itself without demanding the whole industry follow, he pointed out.
Vembu was skeptical of calls by AI labs for an industry-wide pause, which, as per him, appeared to be less about safety and more a bid .

Sridhar Vembu Zoho

Vembu was skeptical of calls by AI labs for an industry-wide pause, which, as per him, appeared to be less about safety and more a bid by some players to slow down rivals

Electrical products maker PM Cona Industries Ltd  has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 120 crore and an offer for sale (OFS) of 45 lakh equity shares by promoter Prakash Naraindas Motwani, according to the draft red herring prospectus (DRHP) filed on Tuesday.
The company plans to use the proceeds from the fresh issue for capital expenditure, including purchase of plant, equipment and machinery, setting up 50 new display showrooms, brand building and marketing initiatives, and general corporate purposes.
Mumbai-based PM Cona Industries is an established manufacturer of electrical products, primarily catering to the low-voltage electrical equipment market for domestic and commercial applications.
The company manufactures fast-moving electrical goods and wires under the 'PM CONA' brand.
The equity shares are proposed to be listed on BSE

Initial public offerings (IPOs)

Electrical products maker PM Cona Industries Ltd  has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO).

Voltas prioritises market share and absolute profit as high input costs weigh on margins, while betting on data centres and backward integration for growth

voltas

Singapore's Temasek has taken a minority stake in Romsons Group to support the medical devices maker's expansion in India and overseas and explore potential acquisitions

Temasek

Brahma AI is an AI-native enterprise technology company focused on audiovisual content across media and entertainment, sports, healthcare, and advertising.

investment, funds, funding

AceVector's IPO opens on September 25 as Snapdeal co-founder Kunal Bahl reflects on its journey and says the company remains focused on long-term growth

Kunal Bahl, co-founder, Snapdeal

Founders who grew up in India account for $560 billion of founder-share-attributed value across 205 current and former unicorns abroad, Prosus and Dealroom find

founders

Mumbai-based Vytalyou has raised Rs 8-10 crore at a valuation of around Rs 33 crore to expand its network in Mumbai and enter other major Indian cities in 2027

healthcare, doctor

Amazon Pay India CEO Vikas Bansal says the company will focus on expanding its smart wallet and digital credit offerings for consumers and small businesses.

amazon

Cybersecurity solutions provider Check Point Software Technologies on Wednesday announced the appointment of Krishnan V V as its Managing Director and Country Head for India and South Asia, effective immediately.
In his new role, Krishnan will oversee the company's business strategy, profit and loss (P&L) performance, go-to-market execution, and organisational development across the region, according to a company statement.
He will report to Ruma Balasubramanian, President, Asia Pacific & Japan (APAC & Japan), the company said.
Krishnan brings over three decades of leadership experience. Before joining Check Point, he served as Country Director - BFSI at Palo Alto Networks. He has also previously held senior leadership positions at several companies, including Wipro, Sun Microsystems, Oracle, Symantec and Seclore.
"India sits at the centre of many of the world's most important technology and business transformations. As AI adoption accelerates, organisations are looking ...

Check Point software technologies

Check Point Software Technologies on Wednesday announced the appointment of Krishnan V V as its Managing Director and Country Head for India and South Asia, effective immediately.

Adrian Bosshard talks about India's growing prominence for luxury watchmakers

Adrian Bosshard, chief executive officer at Rado

SBI Chairman C S Setty says stronger bank profitability, credit demand and asset quality give the sector greater capacity to support investment and India's next stage of growth

image

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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