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

Infosys will work with US-based Citizens to launch an AI-first innovation hub in Bengaluru to drive AI-led transformation across banking operations and services

Infosys

Gold financier Muthoot Finance raised $600 million through a senior secured bond issue under its $4 billion Global Medium Term Note programme

Muthooth Finance

RBI has imposed a compounding fee of Rs 18.76 lakh on Paytm for FEMA violations linked to certain investments in its subsidiaries, the company said

Paytm

Strategic partnership will help meet the Indian armed forces' requirements for advanced helicopters

Adani Group

The raid is linked to a year-long investigation into suspected abuse of algorithms and fraudulent data extraction by X or its executives

Elon Musk

Reuters

India Yamaha Motor has announced the price of its first electric scooter, EC-06, at Rs 1.67 lakh, to be sold in select cities through premium Blue Square showrooms

Yamaha Motor, EC-06 scooter, Electric scooter

EV major Tesla India on Tuesday said it has launched various initiatives, including an EMI scheme, to lift weak sales in the country.
To encourage customers switching from the petrol and diesel cars to electric, Tesla said it is offering Rs 3 lakh exchange incentive.
Besides, customers can now purchase the Model Y at a monthly installment starting from Rs 49,000, with a down payment of just Rs 6 lakh significantly lowering the barrier to entry for premium electric vehicles, it added.
Tesla India commenced deliveries of Model Y in September last year.
As per the EV sales data shared by FADA, Tesla India has managed to sell 225 units last year.
Overall electric passenger vehicle retail sales rose to 1,76,817 units last year, up 77 per cent as compared with 99,875 units in 2024 calendar year.
By switching to Tesla Model Y the customers can achieve savings of up to Rs 20,000 per month through reduced fuel and maintenance costs, underscoring the long-term cost benefits and lower total

Tesla India, Tesla

To encourage customers switching from the petrol and diesel cars to electric, Tesla said it is offering ₹3 lakh exchange incentive

Venture capital firm Peak XV Partners has reshuffled senior leadership, promoted Abhishek Mohan as general partner, and renewed its strategic focus on artificial intelligence

leadership, finance sector

Enterprise AI platform Loop AI has raised $14 million in a Series A round led by Nyca Partners to expand its product suite and scale teams across the US and India

startup funding, startups

Mortgage-technology lender plans pan-India expansion as investors double down on India's housing finance growth

Funding among Indian startups declined by a marginal 7 per cent in the first nine months of 2024 to $7.6 billion from $8.2 billion during the same period last year.

D-Propulse is building an indigenous rotating detonation engine (RDE)-based propulsion system

IAN Alpha Fund

Post its IPG acquisition, Omnicom is reshaping its India operations, betting on scale, talent continuity and AI as one of its fastest-growing global markets

Aditya Kanthy, president and managing director, Omnicom Advertising India

Confident Group founder C.J. Roy dies by suicide in Bengaluru amid reported income tax raids, police say investigation is underway

confidant

The Enforcement Directorate on Friday said it has arrested former Reliance Communications (RCOM) president Punit Garg on money laundering charges in an alleged Rs 40,000 crore worth bank loan fraud against group companies of businessman Anil Ambani.
Garg was taken into custody on Thursday. A special Prevention of Money Laundering Act (PMLA) court in Delhi sent him to nine days of ED custody, the federal probe agency said in a statement.
Garg, ex-president and director of Reliance Communications Limited (RCOM), was arrested in connection with an ongoing investigation linked to an alleged over Rs 40,000 crore bank fraud and money laundering by RCOM and its group entities, the ED said.
There was no immediate comment from the Reliance Group on this development.
The agency, on Wednesday, had said it had attached shares and mutual funds in the name of Garg's wife.
"Garg, while holding senior managerial and directorial positions in RCOM over an extended period from 2001 to 2025, was acti

Enforcement Directorate, ED

Probe agency alleges diversion and laundering of funds through overseas subsidiaries of Anil Ambani group firm

After Khosla called out Musk over a racist comment in one of his earlier posts, Musk said his partner is half Indian and that his son is named after Indian physicist Chandrasekhar

elon musk, vinod khosla

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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