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 government has received revised financial bids for the strategic sale of IDBI Bank from Fairfax Financial Holdings and Emirates NBD, sources said on Tuesday.
A final decision on the successful bidder will be taken once the financial bids are opened, which is likely very soon, sources added.
According to sources, both the bidders have experience in the Indian banking sector, with Dubai-based Emirates NDB acquiring RBL Bank earlier this year and billionaire investor Prem Watsa-backed Fairfax Financial already holding a 40 per cent stake in the private-sector CSB Bank.
Both the bidders already have security clearance from the Ministry of Home Affairs (MHA) and 'Fit and Proper' assessment from the RBI.
The government and LIC were together looking to sell 60.72 per cent in IDBI Bank and had floated an Expression of Interest (EoI) in October 2022.
Financial bids came on February 6. However, the financial bids from Fairfax Financial Holdings and Emirates NBD were below the reserve pr

stake sale

The government has received revised financial bids from Fairfax Financial and Emirates NBD for the strategic sale of a 60.72% stake in IDBI Bank

At Google I/O Connect India 2026, the company unveiled enterprise AI, cybersecurity and education initiatives while expanding in-country AI infrastructure for businesses

Dr manish gupta

Swedish furniture retailer IKEA plans to more than double its investment in India to over Rs 21,000 crore by 2030 as it accelerates store expansion, strengthens local sourcing and deepens omni-channel presence to reach a turnover of Rs 8,000 crore, said its India business head Patrik Antoni.
The company, which had committed to invest Rs 10,500 crore in India in 2013, when it received approval for single-brand retail operations, has already surpassed that level of investment, with the two upcoming multi-use Lykli centres in Delhi-NCR, the IKEA India CEO told PTI.
"We made a commitment to the authorities that we would invest Rs 10,500 crore. This amount is already committed to India at the moment, and we see that we will probably double that investment going forward. By 2030, we should have doubled that at least," said Antoni.
The new tranche of investments will be directed towards expanding the retailer's physical footprint, mixed-use developments, renewable energy projects, sourcing

IKEA

The new tranche of investments will be directed towards expanding the retailer's physical footprint, mixed-use developments, renewable energy projects, sourcing operations and technology capabilities

The Byju's founder faces legal battles across multiple jurisdictions, including a US dispute over a soured $1.2 billion loan

Byju Raveendran

Companies raised a record ₹5.37 trillion through commercial papers in the first quarter of FY27. Here's what they are, who issues them and why their use is rising

fundings, Commercial paper market, Market borrowings

Jubilant FoodWorks Ltd (JFL), India's leading quick-service restaurant chain operator has received a GST demand notice for Rs 46.9 crore, according to a regulatory filing by the company.
JFL said it will challenge the GST department's notice.
The show cause notice alleges that the Input Tax Credit (ITC) has been reversed in the "incorrected table" while filing the GST return of JFL, said the flagship company of the Jubilant Bhartia Group.
"The company has received a show cause notice (SCN) from the GST Department proposing a GST demand amounting to Rs 46,90,96,051," said JFL, which has franchise rights for global QSR (quick-service restaurant) brands as Dominos and Popeyes.
The Bhartiya family-promoted firm said it "believes that the SCN issued has not considered the merits" of the submissions filed by the company.
"The company is in the process of filing detailed objections within the stipulated timelines as per the SCN. Post such filings, the impugned SCN and proposed demand is 

Jubilant FoodWorks

JFL said it will challenge the GST department's notice

The deal strengthens the company's aerospace manufacturing footprint and expands its presence in the Rolls-Royce supply chain

Rolls Royce aerospace

The selected startups include Fermbox Bio, Revelations Biotech, 4baseCare, Sea6 Energy and Telluris Biotech, the sources said

Startups, Indian startups

Existing investors M&G Prudential and Lightspeed joined new backer BlackRock in the financing, combining equity, debt and bond conversion as Udaan moves closer to a potential IPO

Udaan

The private investment firm has invested in these AI companies from January 1, 2021, to date, participating in 19 funding rounds ranging from seed-stage investments to mature Series F rounds

Azim Premji, founder chairman, Wipro

Nilekani made his largest personal commitment to a venture firm as Fundamentum expanded its leadership team and reaffirmed its focus on backing Series B startups

(L-R) Mayank Kacchawaha, Sanjeev Aggarwal, Prateek Jain and Sanjay Chaturvedi

Balasubramanian said the Reserve Bank of India's recent measures to attract foreign capital could bring as much as $75 billion in inflows

K Balasubramanian, Citi India CEO

Jio Platforms has replaced Kiran Thomas as chief executive officer with Pankaj Pawar ahead of its planned initial public offering, according to the company's draft IPO papers.
The draft papers, submitted to capital markets regulator Sebi in June, mentioned that Thomas resigned as CEO on March 23, with Pawar taking charge the following day, March 24.
Pawar, 53, also serves as managing director of Reliance Jio Infocomm Ltd.
"Pankaj Mohan Pawar, aged 53 years, is the Chief Executive Officer of the Company and also serves as the managing director of Reliance Jio Infocomm Limited. He has been associated with the Reliance Group since 2000, and has close to three decades of experience in building and scaling large consumer and digital services businesses," the draft IPO papers said.
Thomas, who previously served as president of Reliance Industries, does not feature among Jio Platforms' key managerial personnel in the draft prospectus, even though he has been visible in each presentation o

The draft papers, submitted to capital markets regulator Sebi in June, mentioned that Thomas resigned as CEO on March 23, with Pawar taking charge the following day, March 24

The venture capital firm's investments in TensorWave and Neysa reflect its belief that compute, cloud, power and security infrastructure will capture AI's long-term value

Utkarsh Malhotra

Restructuring positions biotech arm to focus on biologics and biosimilar

Samit Mehta

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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