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

The Enforcement Directorate on Tuesday said it has attached assets worth Rs 510 crore, including two aircraft, as part of an alleged bank fraud-linked money laundering investigation against the Reliance Anil Ambani Group (RAAG).
The probe is related to allegations against Reliance Home Finance Limited (RHFL)/Reliance Commercial Finance Ltd. (RCFL) of Rs 263.05 crore fraud and against Reliance Communication Ltd. (RCOM) for Rs 247.12 crore fraud.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the properties worth Rs 510 crore, it said.
In the RCOM case, the attached assets include 2 chartered aircraft, 6 land parcels and an office premise in Maharashtra, the ED said in a statement.
In the RHFL/ RCFL case, two wind mills in Tamil Nadu, bank balances, fixed deposits and investments have been attached, it added.
The aircraft are a Dassault Falcon 2000 and an Embraer.
The agency claimed its probe found that the Group was involved in ..

Enforcement Directorate, ED

ED attaches ₹510 crore worth of assets, including two aircraft, in bank fraud-linked money laundering probe against Anil Ambani Group

The Alura project will feature around 250 luxury residences across two towers in Gurugram's Sector 62, with expected sales realisation exceeding ₹9,000 crore

pioneer urban

According to a press release by the CCI, the acquisition covers Deutsche Bank's businesses operated through its branches in India and will be carried out as a going concern through a slump sale

Kotak Mahindra Bank, Kotak Mahindra, Kotak

Knowledge Realty Trust CEO Shirish Godbole says GCCs and front-office occupiers are driving office demand, while tighter Western visa policies could further benefit India

Shirish Godbole

The retail-focused Reit's net operating income rose to ₹504 crore in Q2FY27, while distributions increased 8 per cent to ₹359 crore amid strong consumption and leasing momentum

Dalip Sehgal

The company has challenged a Madhya Pradesh High Court ruling allowing a CCI investigation into alleged bid rigging and market allocation among liquor distilleries in the state

supreme court

FirstClub is entering beauty and personal care with more than 80 brands priced from ₹300 to ₹3,500, applying ingredient screening, product testing and customer-rating criteria

Ayyappan R

Valued between $500 million and $1 billion each, India's 51 Gazelles have a combined valuation of ₹3.3 trillion, with fintech emerging as the leading sector

startups

Chennai-based Inbound Aerospace is in talks with investors to raise around $10 million to develop its reusable space re-entry vehicle and autonomous landing system ahead of a 2028 mission

investment, funds, funding

The company plans to enter battery energy storage and expand its solar, energy efficiency and wastewater treatment businesses

Two Point O Capital

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

Saugata Gupta, the managing director and chief executive officer of Marico, talks about about the company's plans on acquisition

Saugata Gupta, managing director and chief executive officer, Marico

P N Vasudevan talks about his exit and the future roadmap for Equitas

P N Vasudevan MD & CEO, Equitas Small Finance Bank

Reliance Industries chairman Mukesh Ambani has emerged as the world's biggest billionaire wealth gainer, adding over USD 6 billion to his fortune in a single day, as shares of his flagship company surged following a stronger-than-expected quarterly earnings performance.
According to Forbes' Real-Time Billionaires list, Ambani's wealth increased by 7.85 per cent, or USD 6.3 billion, making him the biggest gainer globally in the latest update to the ranking on November 2.
The gain was substantially ahead of the second-biggest wealth accretion on the list, with Spanish retail billionaire Amancio Ortega adding USD 1.7 billion, followed by China's Zhong Shanshan at USD 1.5 billion.
The gains pushed Ambani to No.23 spot on the world billionaire list, making him the richest Indian ahead of Gautam Adani, who was ranked at No.26 with a wealth of USD 79.12 billion, according to the Forbes listing. Ambani had a wealth of USD 88.8 billion, according to Forbes.
The sharp increase in Ambani's ..

Mukesh Ambani

According to Forbes' Real-Time Billionaires list, Ambani's wealth increased by 7.85 per cent, or $6.3 billion, making him the biggest gainer globally in the latest update to the ranking on November 2

MDR is not intended to be profit-accretive; bank will reinvest proceeds to improve scale of UPI

Debadatta Chand, MD & CEO, Bank of Baroda

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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