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

Precious metals refiner MMTC-PAMP plans to start silver recycling at its existing stores on a pilot basis within three months as rising demand threatens to create serious supply-side constraints, the company's top executive said.
Managing Director and CEO Samit Guha said the company is entering silver recycling because the economics are now more favourable, while global mine production capacity shows no signs of significant expansion despite growing demand.
"If silver demand keeps going the way it is, we could have serious supply-side constraints. Eventually, recycled silver will have to play a bigger role to fill this gap," Guha told PTI in an interview.
He called on the government to encourage silver recycling, noting that Indian households hold an estimated 25,000 tonnes of gold and ten times that amount in silver.
MMTC-PAMP operates 20 stores for gold recycling that can be adapted to handle silver. The company plans to double its store count over the next five years.
"We need 

silver trading silver investment

MMTC-PAMP to pilot silver recycling in Delhi within months as demand spikes, supply tightens and prices soar, with recycled metal seen as key to bridging future shortages

Vedanta's iron ore mining arm, Sesa Goa, has urged the government to provide incentives for low-grade iron ore beneficiation, emphasising that targeted policy support and infrastructure investment are critical to make the processing economically viable and to expand the sector.
The low-grade iron ore beneficiation process enhances the iron content of low-quality ores by removing impurities like silica, alumina, and phosphorus, thereby making them suitable for steel production.
With India's steel demand projected to reach 300 million tonnes by 2030, unlocking low-grade reserves through beneficiation could boost domestic supply security, create jobs, and add billions to government revenues via expanded mining and exports.
Currently, higher-grade ore meets domestic needs, but low-grade stockpiles offer untapped potential, provided policy hurdles like duties and regulatory delays are eased.
"India sits on massive low-grade iron ore inventory  estimated at over 300 million tonnes at min

Vedanta

The low-grade iron ore beneficiation process enhances the iron content of low-quality ores by removing impurities thereby making them suitable for steel production

With international automakers deciding to go ahead with their investments despite uncertain global geopolitical and economic environment, Tata Technologies Ltd is looking forward to a "very strong year" in the next fiscal from an aggregate growth perspective, according to its CEO and MD Warren Harris.
The company - a global product engineering and digital services firm, which had last year acquired Germany-based ES-Tech group, also expects the acquired entity to add to its overall growth trajectory, Harris told PTI in an interview.
"The automotive business specifically is a product-driven business, and because of the uncertainty in the last 18 months to two years, a lot of our customers, not just in North America, but also in Europe, have been sitting on their hands because they have not been sure about which propulsion system they should invest in, where they should be building product and how they should be managing their supply chains," he said.
At least now, Harris said,"Whether

Tata, Tata group

CEO Warren Harris said global automakers are resuming investment decisions despite geopolitical uncertainty, boosting confidence of double-digit growth for Tata Technologies in the next fiscal year

The Adani Ports will be carrying out the second phase development of the Vizhinjam seaport at an estimated cost of around Rs 16,000 crore, and an announcement in this regard is expected during the inaugural ceremony on Saturday, sources said.
The second phase of development will be inaugurated on Saturday evening by Chief Minister Pinarayi Vijayan.
The Adani Ports and Special Economic Zone Ltd (APSEZ) expects the second phase of development to make Vizhinjam the largest transhipment hub in the Indian sub-continent, the sources said.
It will add 4.1 million Twenty-foot Equivalent Units (TEUs) to the existing capacity of the port, they said.
The sources further said that while Vizhinjam was currently the most advanced and fully automated transhipment hub in India, the phase 2 development will be undertaken with updated automation in technologies and equipment.
The phase 2 equipment will include 21 automated ship-to-shore (STS) cranes, 45 automated Cantilever Rail-Mounted Gantry (CMR

Adani Ports, Adani Group, Gautam Adani

The Adani Ports and Special Economic Zone Ltd (APSEZ) expects the second phase of development to make Vizhinjam the largest transhipment hub in the Indian sub-continent

Non-bank lender Piramal Finance on Friday reported that its net profit for the December quarter zoomed to Rs 401 crore from Rs 39 crore in the year-ago period.
The company's managing director and chief executive, Jairam Sridharan, attributed the profit growth to a combination of factors, including growth in assets under management, expansion in net interest margins, control over operating expenses and lower credit costs.
Its AUM jumped by over 23 per cent during the quarter, NIMs expanded by 0.50 per cent to 6.30 per cent, operating expenses grew by just 4 per cent and the provisions were up 36 per cent, as per a statement.
The core net interest income grew 31 per cent to Rs 1,227 crore, while the other income was up 23 per cent at Rs 252 crore for the reporting quarter.
The return on AUM stands at 1.9 per cent at present, and the company is aiming to take it further up to 3 per cent over the medium term, Sridharan said, adding that NIMs will have to expand by 0.30 per cent more to

Piramal Finance

Piramal Finance's December-quarter profit jumps to ₹401 crore on strong AUM growth, wider margins and lower credit costs

The World Bank has approved the USD 815 million long-term finance package for 1,125 megawattDorjilung Hydropower Project, in which Tata Power holds 40 per cent share.
The remaining 60 per cent in the special purpose vehicle (SPV) is held by Bhutan's Druk Green Power Corporation (DGPC).
The Board of Executive Directors of the World Bank has approved and sanctioned long-term financing for the 1,125 MWDorjilung Hydropower Project (DHPL), Tata Power said in statement.
The financing package includes a USD 150 million grant and a USD 150 million credit from the International Development Association (IDA) and a USD 15 million enclave loan from the International Bank for Reconstruction and Development (IBRD) to DGPC (Government of Bhutan).
The package also includes as a USD 200 million IBRD enclave loan and a USD 300 million loan from the International Finance Corporation (IFC) to Dorjilung Hydro Power Limited (DHPL).
The balance funding requirements for the project will be arranged from 

Tata power

The World Bank has approved the $815 million long-term finance package for 1,125 megawatt Dorjilung Hydropower Project, in which Tata Power holds 40 per cent share

Sunil Mehta to step down as chairman and director

Arijit Basu

The startup group has asked the government to reassure global investors of a stable investment environment, asking it to issue a clarification that pre-2017 investments would not face taxes

Tiger Global, Supreme Court

Reuters

Trai's move to shift debt collection calls to the 1600 series aims to curb fraud, but lenders warn it could force greater reliance on physical recovery methods

Trai

RBI's in-principle approval allows Payoneer India to expand cross-border payment services for importers and exporters, even as 19 entities have already received full PA-CB authorisation from regulator

Accel partners Shekhar Kirani and Rachit Parekh on why they're holding their Amagi stake post-IPO, the reopening of India's tech listing window, and where they're placing AI bets

Rachit Parekh and Shekhar Kirani, partners at Accel.

J&K Bank expects gross NPAs to fall below 2% in two years as recoveries stay strong, even as margins face pressure from cumulative repo rate hikes

Amitava Chatterjee, Managing Director and Chief Executive Officer (MD&CEO), Jammu and Kashmir Bank

Indian Bank's Q3 FY26 profit rose 8% as strong RAM loan growth, steady CASA ratio and cautious pricing lifted margins, with MSMEs and retail driving advances

Binod Kumar, Managing Director and Chief Executive Officer, Indian Bank

Sunil Mehta to step down from the helm of IndusInd following completion of his term on Jan 30

IndusInd Bank

PNB Housing Finance MD Ajai Kumar Shukla says asset quality remains stable and margins steady near 3.6-3.7% despite rate cuts, with growth led by housing loans

Ajai Kumar Shukla, Managing Director & Chief Executive Officer, PNB Housing Finance

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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