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

IHG Hotels aims to double its India footprint to 400 hotels by 2030 and is open to acquiring assets as demand and branded hospitality growth accelerates

Sudeep Jain

Fair trade regulator CCI on Tuesday approved US-based Alpha Wave Global's proposed stake purchase in Nxtra Data, the data centre and cloud services arm of Bharti Airtel.
Alpha Wave Global is acquiring a stake through Alpha Wave Ventures II, LP, a private equity fund co-managed by the alternative asset manager.
The Competition Commission of India (CCI) said it has cleared the proposed deal.
"CCI approves acquisition of certain shareholding in Nxtra Data Limited by Alpha Wave Ventures II, LP," the competition watchdog said in a post on X.
In March this year, Bharti Airtel announced that its subsidiary Nxtra Data has secured USD 1 billion investment led by Alpha Wave Global, Carlyle and Anchorage Capital.
Bharti Airtel, which will also participate in the investment round, will continue to retain a controlling stake in Nxtra. As part of the acquisition deal, Alpha Wave Global will invest USD 435 million, with the rest to be infused by Carlyle, Anchorage Capital and Airtel.
After the 

Data Centre

CCI clears Alpha Wave Global's stake purchase in Nxtra Data as the Airtel unit gears up for AI-driven data centre expansion

e2E Rail subsidiary plans to strengthen indigenous capabilities in railway signalling, train protection and OT cybersecurity as rail networks become more digital

Indian Railway

The automaker said it initiated precautionary measures and response protocols after a ransomware attack affected its systems and those of subsidiary Bajaj Auto Technology

bajaj auto

Reuters

Furniture brand plans to grow revenue by 25 per cent in FY27 through retail expansion, deeper market penetration, online sales growth and new product categories

Interio by Godrej, Interio

The company has also deposited Rs 29.5 crore as security, with the lease including a 4.25 per cent rent escalation every year

Accenture

The Enforcement Directorate on Tuesday conducted searches against Rajesh Exports which is facing scrutiny from market regulator Sebi over alleged financial irregularities, official sources said.
The action is understood to have been taken under the Foreign Exchange Management Act (FEMA) at the Bengaluru-headquartered company.
Premises in Bengaluru and Mumbai linked to the company are being covered, they said.
Rajesh Exports Ltd allegedly inflated its consolidated revenues by more than Rs 15 lakh crore over five years by attributing massive revenues to overseas subsidiaries, particularly Switzerland-based Valcambi SA, despite the subsidiary's audited standalone financial statements showing only a fraction of those amounts, according to an interim order by Sebi.
The regulator has restrained the company's Chairman and Managing Director, Rajesh Mehta, from buying, selling or dealing in securities of Rajesh Exports, either directly or indirectly, until further orders.
Rajesh Exports ha

Rajesh Exports

The action is understood to have been taken under the Foreign Exchange Management Act (FEMA) at the Bengaluru-headquartered company

Bessemer-led funding will help the company expand its AI-powered platform as enterprises grapple with rising cyberattacks and growing security risks

(L-R) Mayank Morya, Mohit Anand, Sarthak Dubey, and Akshit Kaushik, Co-founders of Mitigata

The platform operates a members-only financial rewards programme that targets users with high credit scores and offers them rewards and discounts

Cred founder Kunal Shah will step down as chief executive officer and replace the current head of WhatsApp

cred fintech startup

Escalating tensions in West Asia have made investors more cautious, dragging India's startup funding 43% lower since March

investment, funds, funding

Ahead of a planned listing, Zepto's 23-year-old co-founder is betting that robots and software can narrow the cost of quick commerce delivery

Zepto Mother Hub

Shah has a portfolio of about 298 companies, focusing primarily on sectors such as consumer tech, fintech, SaaS, climate tech, AI and edtech

Kunal Shah, WhatsApp, Meta, CRED, Mark Zuckerberg, Silicon Valley, fintech, WhatsApp monetisation, Meta investment, Indian entrepreneurs

Kunal Shah's appointment to WhatsApp adds to a growing list of Indian business leaders who built careers in India before rising to top roles at global firms

Kunal Shah, Ajay Banga, Leena Nair

Shah will succeed Will Cathcart, who has led WhatsApp since 2019. Cathcart will move to a newly created division within Meta focused on building next-generation products

Kunal Shah

Meta acquires a minority stake in Cred through a $900 million investment and appoints founder Kunal Shah as global head of WhatsApp

Kunal Shah, founder, Cred

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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