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

A government agency is expected to formally open the bidding process as soon as this month, in what could be the biggest state-backed disposal of a bank stake in decades

IDBI, IDBI Bank

Bloomberg

On Thursday, 73 flights were cancelled at Bengaluru airport, its spokesperson said. Around 30 were cancelled in Delhi, and 68 in Hyderabad, and 85 IndiGo flight cancellations were planned for Mumbai

indigo airlines, indigo

Reuters

Indian IT majors vie for mandate as American bank plans insourcing rampup

US Bancorp

Fintech firm Zaggle Prepaid Ocean Services has placed Rs 97 crore bet on consumer credit card and UPI-based payment solution provider Rivpe Technology with its 100 per cent acquisition, according to a regulatory filing.
Zaggle will acquire Rivpe for Rs 22 crore and invest Rs 75 crore in the latter's brand Rio.Money to support product enhancement and expansion of consumer payment offerings.
"We wish to inform you, the Board of Directors of Zaggle Prepaid Ocean Services Limited at its meeting held today...approved ...acquisition of 81,429 Equity Shares and 16,407 Compulsory Convertible Preference Shares for consideration up to Rs 22 crores from the existing shareholders of Rivpe Technology Private Limited (Rivpe), representing 100 per cent of issued and paid-up capital of Rivpe on a fully diluted basis," the filing said.
The transaction is expected to close in 120 days.
"Zaggle will invest up to Rs 75 crore in Rio.Money, in one or more tranches, to support product enhancement, ...

Zaggle Prepaid Ocean Services Limited

Zaggle will acquire Rivpe for Rs 22 crore and invest Rs 75 crore in the latter's brand Rio.Money to support product enhancement and expansion of consumer payment offerings

Tsugami has inaugurated a Rs 300-crore assembly and foundry unit near Chennai-its largest machine-tool investment in India-boosting local jobs and strengthening high-precision manufacturing

Tsugami

LIC and GQG Partners have indicated interest in subscribing to Adani Enterprises' rights issue, with RE trading active and most applications expected closer to the December 10 deadline

Adani Group

LIC has entered a bancassurance partnership with Yes Bank, giving customers wider access to its life insurance plans as both institutions work toward the "Insurance for All by 2047" vision

Life Insurance Corporation, LIC

Dream Sports' Dream Horizon will release its in-house tech stack-tested at peak scale-to help developers and startups build large systems, as the company refocuses after the real-money gaming ban

Dream Sports launches Dream Horizon

Arctus Aerospace has secured $2.6 million in pre-seed funding to build long-endurance, high-altitude unmanned aircraft aimed at delivering affordable, real-time, high-resolution Earth intelligence

Technology, Startups, Space startup, Food delivery

Rajiv Naresh, MD and CEO, Navi, says the fintech aims to capture a significant share of the UPI ecosystem by investing in credit line products, strengthening tech infra, and customer awareness

Navi Technologies CEO Rajiv Naresh

Toxic air levels across northern India are pushing consumers to stock up on N95 masks, home and car air purifiers, driving a major surge in sales across e-commerce, quick commerce, and offline stores

Mask, Pollution, New Delhi Pollution

Arun Kumar Singh has been granted a rare one-year extension as chairman of ONGC, in signs that the government may have wanted continuity to consolidate the gains India's top oil and gas producer has made under his leadership.
Singh, 63, will continue as the chairman of Oil and Natural Gas Corporation (ONGC) till December 6, 2026, according to an official order that cited a decision made by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.
In 2022, he became the first near-60 executive ever to be appointed chairman of a blue-chip PSU. Now, in another unprecedented move, his tenure will run until age 64.
Industry sources said Singh brought the much needed stability in management at ONGC, helping reverse the decade-long decline in production of crude oil, which is feedstock for making petrol and diesel, and natural gas, which is used to produce power, make fertilizer, turned into CNG to run automobiles and fire household kitchens.
Under him, ONGC stitch

ONGC

Singh, 63, will continue as the chairman of Oil and Natural Gas Corporation (ONGC) till December 6, 2026, according to an official order that cited a decision made by the Appointments Committee

Marvell's India country head on how India has become the company's second-largest R&D hub, contributing to 90% of product lines and driving custom silicon for AI infrastructure

Navin Bishnoi, Marvell India country head

Apple has appointed Amar Subramanya as its new vice-president of artificial intelligence (AI), giving him charge of foundation models, machine learning research and safety

Amar Subramanya

Binance's APAC head says India is the fastest-growing digital asset market globally despite regulatory uncertainty, with explosive potential driven by mobile penetration and savvy users

SB Seker, head of APAC at Binance

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

Ashwani Kumar, Managing Director and Chief Executive Officer (MD&CEO), UCO Bank

VinFast is committed to making EVs more accessible while contributing to economic growth through investment and local job creation.

Pham Sanh Chau

Two-wheeler demand likely to remain tepid until festival season, says HMSI

Yogesh Mathur, Director-Sales & Marketing, HMSI

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

JSW joint managing director and chief executive officer Jayant Acharya

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