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

Novartis India Ltd on Monday announced that its Board of Directors has approved the acquisition of the trademarks 'Minipress' and 'Minipres' from Pfizer Inc. USA and Pfizer Products Inc. USA for a total consideration of approximately Rs 1,250 crore.
In a regulatory filing, the company said the transaction involves the acquisition of the trademarks registered in India and certain related intellectual property rights for a total aggregate consideration of Rs 1,250 crore.
The company has executed an asset purchase agreement and trademark assignment deeds with Pfizer Inc USA and Pfizer Products Inc USA, with the signing and closing of the transaction scheduled to occur simultaneously, as per the filing.
The company noted that Minipress XL (containing prazosin) is primarily indicated in India for treating hypertension (high blood pressure) and managing the urinary symptoms of benign prostatic hyperplasia (BPH).
The filing further highlighted that as per IQVIA MAT July 2026 data, Minipre

Novartis

The company has executed an asset purchase agreement and trademark assignment deeds with Pfizer Inc USA and Pfizer Products Inc USA

The auto-component maker expects global growth to be led by instrument clusters, wiring harnesses, EV components and electronics as it increases four-wheeler penetration

Automakers, carmakers, auto industry

The former PAG executive will lead NIIF's fundraising and investor relationships after the asset manager mobilised around $3 billion in new equity commitments over two years

Niifl

Tewolde Gebremariam joined Air India early last month but will not yet be formally designated chief executive officer and accountable manager as his security clearance is still pending

Tewolde Gebremariam

The funding takes Pixxel's total capital raised to $195 million and will support new satellite capabilities, Earth intelligence Software, sovereign systems and manufacturing expansion

technology startup funding

NTPC seeks key changes in draft SHANTI rules, including faster licensing, removal of new-company limits and utility-agnostic approvals

The NTPC Ltd. logo on a building in Noida, Uttar Pradesh, India

Joint venture will combine TRL Krosaki's quartzite mineral resources with RPEL's manufacturing expertise, proprietary technology and domestic and global network

Prasant Kumar Naik, Managing Director of TRL Krosaki Refractories and Sanjay Kabra, Chairman of RPEL at the MoU signing ceremony in Kolkata on Saturday

Elevation Capital and Nexus Venture Partners also participated, while Urban Company's Abhiraj Singh Bhal, Snap's Ajit Mohan and entrepreneur Anand Ahuja joined as angel investors

(From left) Dishant Daryani and Utkarsh Gupta, founders, Comet

Open AI models and sovereign APIs enable ecosystem partners to build multilingual solutions, while TutorBot and Teacher Assistant Bot bring AI support to students and teachers

language, banks

The MALE-300 intelligence, surveillance and reconnaissance drone will have a 300-kg modular payload, 30-hour endurance and an operating altitude of 30,000 feet

New financing from Qualcomm Ventures, Labcorp, Alpha Wave, Blume and others will accelerate Ultrahuman's health intelligence platform and its global expansion

Mohit Kumar, founder and chief executive officer of Ultrahuman

Novartis doubles down on innovation in India, eyeing R&D, clinical trials and a stronger regulatory ecosystem while moving away from traditional generics

(From left) Judith Love, President, Asia Pacific, Middle East and Africa, Novartis; and Amitabh Dube, Country president and managing director, Novartis India

On what will make India an attractive investment destination, Love said: ''I think the number one for us to make India attractive is to create an innovative ecosystem.''

Judith Love, president, Asia-Pacific, Middle-East and Africa, Novartis

The CBI has registered an FIR against media baron Subhash Chandra for allegedly inflating his net worth to avail loans from Life Insurance Corporation Housing Finance Ltd (LICHFL), which became default, causing over Rs 1,322 crore loss to the public sector lender, officials said Saturday.
The LICHFL has alleged in its complaint, which is now part of the FIR, that Chandra submitted net worth certificates that were used to secure approval and disbursal of two loans totalling Rs 980 crore.
There as no immediate reaction from the accused named in the FIR.
The complaint concerns a Rs 500 crore facility extended to Vasant Sagar Properties Pvt Ltd, with Pan India Infra Projects Pvt Ltd as co-borrower, and a Rs 480 crore facility extended to Digital Subscriber Management and Consultancy Services Pvt Ltd, with Spirit Infra Power and Multi Ventures Pvt Ltd as co-borrower, the FIR alleged.
According to the complaint, the Rs 500-crore Vasant Sagar facility was sanctioned as a home entity loan 

Subhash Chandra CBI case, LICHFL fraud case, LIC Housing Finance loan, inflated net worth, net worth certificate, CBI FIR, loan default

CBI FIR alleges Subhash Chandra inflated net worth for LICHFL loans

According to the FIR, subsequent proceedings under the Insolvency and Bankruptcy Code, 2016, Chandra denied having the net worth stated in the certificates submitted to LICHFL

ADB's Bhargav Dasgupta says India must unlock sub-national financing to meet its $840-billion urban infrastructure need and attract larger pools of private capital

VP Bhargav Dasgupta

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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