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

Specialty chemicals company LANXESS and Bharat Petroleum Corporation Limited (BPCL) on Thursday said they have entered into an agreement to explore opportunities for long-term cooperation in advanced industrial lubricant technologies, specialty fluid solutions and related applications in India.
The Memorandum of Understanding (MoU) establishes a non-exclusive framework for evaluating technical and commercial opportunities aimed at developing innovative lubricant solutions, supporting OEM approvals, enhancing localisation and creating long-term value for customers across industrial sectors in India, according to a statement.
The cooperation will combine LANXESS' global lubricant additive expertise, formulation capabilities and OEM relationships with BPCL's strong domestic market presence, base oil portfolio, manufacturing infrastructure and customer reach.
The two companies will also assess opportunities in next-generation and sustainable technologies, including bio-based lubricants,

BPCL

LANXESS and Bharat Petroleum Corporation Limited (BPCL) said they have entered into an agreement to explore opportunities for long-term cooperation in advanced industrial lubricant technologies

Indraprastha Gas Ltd (IGL) has signed an agreement with the Delhi Division of Northern Railway to supply piped natural gas (PNG) to 22 railway establishments across Delhi-NCR, as the city gas distributor steps up efforts to replace conventional fuels with natural gas under the government's PNG Drive 3.0.
The agreement will initially facilitate the supply of around 3,000 standard cubic metres of gas per day (SCMD), replacing consumption of approximately 500 kg of liquefied petroleum gas (LPG) and 2,500 litres of diesel daily, IGL said in a statement.
The proposed conversion will cover railway mechanised laundries, officers' rest houses, base kitchens, running rooms, subordinate rest houses and guard and ticket examiner lobbies across Delhi, Ghaziabad and Gautam Buddha Nagar.
The mechanised laundries at Delhi Sarai Rohilla, Old Delhi, Anand Vihar Terminal, Hazrat Nizamuddin and New Delhi will use PNG for boiler operations.
IGL expects consumption under the initiative to increase to .

Initial supply of 3,000 standard cubic metres per day will replace around 500 kg of LPG and 2,500 litres of diesel consumption daily, with demand expected to rise to 10,000 SCMD

The regulator also approved transactions involving Prosus-backed Navi, Aditya Birla Renewables' acquisition of Solenergi Power and Adani Energy Solutions' purchase of IntelliSmart Infrastructure

Competition Commission of India (CCI) headquarters in New Delhi

Jatin Kumar Nayak has assumed charge as the Chairman & Managing Director of Indian Renewable Energy Development Agency (IREDA), a company statement said.
Prior to this appointment, Nayak held the position of Executive Director (Finance) at REC Ltd.
Nayak has over three decades of rich and diverse experience, the statement said.
He has served as Chief Financial Officer of erstwhile REC Transmission Projects Company Limited, a subsidiary of REC.
Earlier in his career, he has worked with NHPC, Hindustan Copper, National Aluminium Company Ltd (NALCO) and Neelachal Ispat Nigam Ltd.
His experience spans over the power sector and resource-intensive industries, including mining and metals.
He also brings substantial expertise in domestic and international resource mobilisation, strategic treasury management, corporate finance, taxation and legal affairs, project appraisal and monitoring, lending operations, loan recovery, and stressed asset management.
Nayak holds a Master's degree in .

IREDA

The former REC executive director (Finance) has over three decades of experience and has previously worked with NHPC, Hindustan Copper, NALCO and other companies

Amid the IDBI bank disinvestment row, Congress leader Rahul Gandhi has expressed solidarity with the employees and questioned the government's decision to sell off the profitable public bank to a Canadian firm.
The Leader of Opposition in Lok Sabha asserted that public banks are not assets to be sold off, they are tools to build the nation.
Hitting back, Finance Minister Nirmala Sitharaman said the Congress used banks and financial institutions as "personal entities" and pressured bank employees to extend loans at their whim, bypassing prudent lending norms.
She also cited several instances from the Congress-led government, including the removal of SBI chairman R K Talwar in 1976 under Indira Gandhi's rule after he allegedly refused to give in to political pressure to relax lending norms for a company linked to Sanjay Gandhi.
In a letter addressed to members of the IDBI bank family on Thursday, Gandhi said that in March last year, a group of employees of the bank came to meet him i

Rahul- Sithraman

Congress leader backs bank employees, questions privatisation; finance minister defends disinvestment, citing revival under NDA

First to report over Rs 50K cr half-year profit

Mukesh Ambani at Reliance Industries’ AGM, where he announced that Jio has crossed 500 million subscribers, including 191 million on its 5G network.

Mukesh Ambani

A fresh tender window for minority shareholders will open on November 2, while Tata Sons Chairman N Chandrasekaran has been appointed Iveco's chairperson following the takeover

Tata Motors

London-based venture capital firm Octopus Ventures, along with KPN Ventures, has invested USD 38 million (around Rs 361 crore) in Netherlands-based enterprise connectivity platform Braid in a Series A funding round.
KPN Ventures is the venture capital investment arm of KPN, the Netherlands' leading telecom & ICT service provider.
Braid, launched in 2023, said it is profitable and cash-flow positive, with nearly 90 enterprise customers, including global fintech and travel brands.
The company will use the funds to accelerate international expansion, strengthen carrier partnerships and develop its embedded mobile connectivity infrastructure.
Braid operates a technology platform that allows businesses to incorporate branded mobile connectivity into their existing applications, digital products and customer services without becoming telecommunications operators themselves.
"We believe Braid is defining a new category in embedded connectivity and has the team, technology and ambition to

Octopus Ventures leads $38 million investment in Braid

Octopus Ventures, along with KPN Ventures, has invested $38 million in Netherlands-based enterprise connectivity platform Braid in a Series A funding round

Following Vikram-1's maiden orbital launch in July, Skyroot plans to begin commercial operations in early 2027 and scale up to one rocket launch a month by the end of next year

Skyroot Aerospace

AI agents must operate under strict controls, with enterprises held accountable for their actions, says Netskope CEO Sanjay Beri

Sanjay Beri, the founder and chief executive officer of Netskope

Accel partner Prayank Swaroop says Indian startups are listing publicly faster as the venture capital ecosystem matures, but AI firms will need to prove they can sustain growth and profitability

Prayank Swaroop, Partner, Accel

The defence shipbuilder plans clusters in Maharashtra and Andhra Pradesh, with a proposed investment of Rs 20,000 crore over five to seven years

Jagmohan

Hinduja Housing Finance on Friday announced the appointment of Vivek Kannan as its Chief Executive Officer.
Kannan, who joined the company as Chief Operating Officer in 2020, succeeds Sachin Pillai, who stepped down as Managing Director of the housing finance company on October 29.
Pillai will continue on the company's board as a non-executive director.
Kannan with over two decades of experience in the financial services sector will focus on strengthening the company's market presence and driving sustainable growth.
Commenting on the appointment, Dheeraj G Hinduja, Chairman, Hinduja Housing Finance said, under his leadership, the company will continue to strengthen its capabilities and deliver long-term value to its customers and stakeholders.
Hinduja Housing Finance is a subsidiary of Hinduja Leyland Finance Ltd.

Vivek Kannan

Kannan, who joined the company as Chief Operating Officer in 2020, succeeds Sachin Pillai, who stepped down as Managing Director of the housing finance company on October 29

Qualcomm sees growth opportunities in smart glasses, AI inference, edge data centres and satellite connectivity, with India emerging as a key market for affordable next-generation technology

Rajen Vagadia V-P, global distribution &  global carrier strategy, Qualcomm

CEO Jayant Acharya said the company remains on track to spend ₹22,000-24,000 crore in FY27 as it targets nearly 80 million tonnes of capacity

Jayant Acharya, Joint MD & CEO, JSW STEEL

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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