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

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

PepsiCo will increase its play in the packed food segment, catering to "multiple Indias" with different taste buds as it bets on innovations and premiumisation to continue its double-digit growth in the country, its India & South Asia CEO Jagrut Kotecha said.
Pepsico will expand its snacks business in India, as consumption is very low vis-a-vis other countries and with growing urbanisation and more money coming in the pockets with a growing economy, Kotecha expects consumption of packed foods to increase.
PepsiCo, the makers of Kurkure and Lays, has internally divided India into nine clusters to match the regional taste buds of "multiple Indias", he said, adding "if you say it's just one India, I think we are not doing enough justice to it."
"You need to design your portfolio, keeping those consumers of India like multiple Indias. So that's on being consumer-centric and starting to work and drilling down on that. And then understanding what the trends are in terms of taste, ...

The pandemic impact: PepsiCo India lines up offerings for expansion

PepsiCo

In the oatmeal category, PepsiCo is facing competition from home-grown firms such as Marico and some other companies. However, it still leads in the base oatmeal category

Artificial intelligence is a driving force in modern markets that also has the potential to enable collusion, including algorithmic discrimination under the garb of dynamic pricing, CCI chief Ravneet Kaur said on Sunday.
She also emphasised the need to adopt a forward-looking approach as well as trust-based regulations.
Delivering the special address at the 10th National Conference on Economics of Competition Law in the national capital, Kaur said Artificial Intelligence (AI) is a driving force in modern markets.
AI shapes pricing strategies, decision-making, and operational efficiencies across industries but also presents risks, she noted.
According to the Competition Commission of India (CCI) Chairperson, AI can enable new forms of collusion such as "cartels without human communication, price coordination without explicit agreements, and algorithmic discrimination under the garb of dynamic pricing".
The fair trade regulator is already conducting a study on AI and competition.
W

CCI Chairperson Ravneet Kaur

She also emphasised the need to adopt a forward-looking approach as well as trust-based regulations

ICICI Bank and seven lenders assign McLeod Russel's Rs 1,104.69 crore debt to NARCL, raising hopes for restructuring. IndusInd Bank stays out, while JC Flowers ARC holds a 24.39% stake

Professional Loan

The new factory will focus on manufacturing control boards for washing machines, refrigerators, air conditioners, and IT hardware

ipo market listing share market

Damodar Valley Corporation (DVC) has launched a Rs 1,500 crore project to modernise power supply in its command area to ensure round-the-clock quality power and to reduce aggregate technical and commercial (AT&C) losses, an official said on Sunday.
DVC's entire distribution network primarily serves industries, with negligible supply to retail consumers.
The project focuses on shifting from conventional power distribution to a state-of-the-art, technology-driven system to establish a robust primary and secondary distribution network across DVC's command area spanning 24,235 square kilometres in West Bengal and Jharkhand.
"The project capex is nearly Rs 1,500 crore and will be completed in 18 months. The system integrates advanced features such as a distribution management system, outage management system, customer relation management, metering data management system, GIS mapping for real-time communication, ring main units (RMU), and fiber optic-based metering communication ...

electricity

DVC's entire distribution network primarily serves industries, with negligible supply to retail consumers

Carnelian Asset Management & Advisors aims to increase its asset under management (AUM) to USD 2 billion by March next financial year, notwithstanding the current subdued market sentiment.
The entity, which manages funds of high networth individuals, also plans to expand its reach in seven new cities during the next financial year.
"We hope to touch AUM of USD 1.2 billion by this month end and USD 2 billion by the end of next financial year," Carnelian Asset Management & Advisors founder Swati Khemani told PTI.
Asked if the subdued market sentiment has impacted fund flow, she said, most of the investors feel that this is a temporary phenomenon and it should be corrected during the course of next financial year.
Most investors of Portfolio Management Services and Alternate Investment Funds are having deep pockets and their investment horizon is medium to long-term.
To attract overseas money, Khemani said, Carnelian Asset Management & Advisors has set up an office in GIFT ...

Carnelian Asset, Carnelian Asset Management

The entity, which manages funds of high networth individuals, also plans to expand its reach in seven new cities during the next financial year

State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy.
The four private entities are: Accenture Solutions; Colliers International (India) Property Services; PricewaterhouseCoopers and The Boston Consulting Group (India).
The RBI had earlier invited expression of interest (EoI) for 'Procurement of Consultancy and Project Management Services for Modernisation of Currency Management Infrastructure in India'. The central bank had received responses from 11 entities.
After evaluating the responses, RBI said it has shortlisted six entities for issuance of Request for Proposal (RFP), according to an official document.
According to the EoI document, the RBI proposes creation of greenfield currency management centres, the introduction of warehouse automation, the installation of security and surveilla

RBI, Reserve Bank of India

After evaluating the responses, RBI said it has shortlisted six entities for issuance of Request for Proposal (RFP), according to an official document

Imarticus is currently in advanced discussions with investment banking firms, including IIFL, for its upcoming IPO

So long GIC Re, a public-sector entity, was the only player in the field

Insurance, irdai

The company became the master franchisee of American fast food giant Wendy's in 2023. Since then, Rebel has scaled Wendy's to 200 stores, with the latest one opening in Gurugram on Wednesday

Ankush Grover, Cofounder, Rebel Foods

On the international front, the fashion-tech brand plans to open two stores in Dubai. It is currently scouting locations and aims to begin operations by the end of 2025

Amar Nagaram, co-founder and chief executive officer (CEO), Virgio

Dish TV is focusing on expanding its revenue stream, said Manoj Dobhal

Manoj Dobhal, CEO, Dish TV

The Ordinance has excluded Reserve Bank of India (RBI)-regulated entities (REs) which are in this business

JIJI MAMMEN, ED&CEO, Sa-Dhan

'We have installations  of about 6 Gw in solar and 5 Gw in wind energy, and a pipeline of 15 Gw,' said Sumant Sinha, chairman and chief executive officer of ReNew

Sumant Sinha

"In India, we're witnessing distinctive travel trends, including spiritual and religious tourism" said Laura Houldsworth, MD & VP, APAC, Booking.com

Laura Houldsworth

Gupta spoke about the company's growth roadmap, export plans, and upcoming launches

Jalaj Gupta, Managing Director, TI Clean Mobility, Murugappa Group

I'm not overly concerned about daily stock price fluctuations - we are in this for the long term, said Hexaware CEO

R. Srikrishna, CEO of Hexaware

Banga acknowledges that companies have no choice but to adapt, despite energy transition ships running on dual fuels costing up to 20 per cent more than conventional vessels

Harindarpal ‘Harry' Singh Banga

ELC President and CEO Stephane de La Faverie talks about how they are fostering entrepreneurship in India's rapidly expanding beauty market

Stephane de La Faverie, President & CEO, The Estee Lauder Companies

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