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

HUL chairman says higher commodity costs following the West Asia conflict will weigh on Q1, but expects easing ahead and says the company remains well placed to manage short-term volatility

Nitin Paranjpe

The world's largest food company said the move extends its clean-label strategy globally as consumers increasingly seek simpler and healthier food ingredients

Nestle, Nestle India

IHCL plans to invest ₹6,000-7,500 crore over five years as it expands its hotel portfolio, backed by strong domestic tourism and healthy cash flows

N Chandrasekaran

Harrier EV demand is nearly double current production capacity as Tata Motors targets monthly output of 70,000 vehicles with expanded manufacturing and supplier ramp-up

Shailesh Chandra, MD & CEO, Tata Motors

The proposed joint venture has already secured clearance from an inter-ministerial panel, with formal government approval expected soon to operationalise the partnership

joint venture, mergers

Uber has introduced in-app ride recording, ambulance assistance, trip verification PINs and anti-distracted driving features to strengthen rider and driver safety

Uber

Asset manager launches Axis Account Plus, a digital treasury management solution that enables MSMEs to invest surplus working capital seamlessly in liquid and mutual fund schemes

B Gopkumar, managing director and chief executive officer, Axis Asset Management Company

Indus Valley, a toxin-free kitchenware brand, on Tuesday said it has raised USD 17 million (about Rs 161 crore) in a funding round led by private equity firm Gaja Capital.
TheSeries B funding round also included participation from existing investors DSG Consumer Partners, Rukam Capital, and The Chennai Angels, the Chennai-based firm said in a statement.
"This investment will help us accelerate product innovation, strengthen our omnichannel distribution, deepen our brand presence, and expand our leadership across safer kitchen categories," Jagadeesh Kumar co-founder and CEO of The Indus Valley said.
DSG Consumer Partners MD & Head of India Hariharan Premkumar said the investment will deepen product and distribution capabilities.
Founded in 2016 by Jagadeesh Kumar and Madhumitha Uday Kumar, Indus Valley is a cookware company which offers toxin-free, non-coated cookware solutions across cast iron, iron, stainless steel, triply cookware, and pressure cookers.

investment, funds, funding

The Series B round, led by Gaja Capital with participation from existing investors, will support product innovation, distribution expansion and brand-building initiatives

An Oxford Economics report says a restrictive digital regulatory regime could reduce startup formation by 20 per cent and venture capital investment by 25 per cent

startup funding, startups

The ed-tech startup will use the fresh capital to strengthen its AI capabilities, expand its NEET-focused platform and build personalised AI mentors for students

Ed-tech, startup, Lytmus AI

Stepping down as CEO, Hari Menon says BigBasket initially underestimated quick commerce and now expects the Tata-owned firm to prioritise profitability over market share

Hari Menon, co-founder of BigBasket

The company also named Vivek Srivastava to lead its cloud and cyber security business as it accelerates investments in AI and digital infrastructure

Weak Q3 show, near term growth worries for Tata Communications

Tata Communications

Reuters

Almost a week after stepping down as chairman of Trent, Noel Tata announced on Tuesday that he would also relinquish the chairmanship of another Tata group firm, Voltas.
Addressing shareholders of the leading cooling products maker in its 72nd annual general meeting (AGM), Noel Tata, 69, said this would be his last AGM as Chairman of Voltas.
"As you might be aware, this will be my last annual general meeting as Chairman,"  Noel Tata said in his address to shareholders.
He said the company has developed its next generation of leaders through a combination of internal promotions and lateral hiring and expressed confidence in the management's ability to drive future growth.
"The company has developed our next generation of leaders, from both in-house promotions and lateral hires. I am confident that with the close cooperation of seasoned practitioners and new talent, your company will continue to take big strides in all business segments," he said.
Thanking shareholders, employees an

Noel Tata

Addressing shareholders of the leading cooling products maker in its 72nd annual general meeting (AGM), Noel Tata, 69, said this would be his last AGM as Chairman of Voltas

EXL says its $310-million iMerit acquisition will strengthen foundation model training capabilities as enterprises increasingly adopt AI-driven business operations

rohit kapoor

The board also  approved the appointment of Rajiv Kumar as an Additional Director (Independent Director) for a four-year term starting June 30, 2026

Rajiv Kumar, Rajiv, ECI

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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