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

Torrent Power on Monday announced the opening of equities on qualified institutional placement (QIP) basis at a floor price of Rs 1,555.75 apiece as part of its plan to raise up to Rs 5,000 crore in one or more tranches.
The company did neither disclosed the number of shares to be issued nor the total issue size.
However, there are speculations that the issue size is expected to range between Rs 3,500 crore and Rs 5,000 crore.
The fund raising committee of the board, at its meeting held on December 2 has, inter alia, considered and approved authorising the opening of the issue today, Torrent Power said in a stock exchange filing.
According to the company, the committee also approved the floor price for the issue at Rs 1,555.75 per equity share, based on the pricing formula prescribed by capital market regulator SEBI.
In July this year, shareholders of the company had approved the proposal to raise up to Rs 5,000 crore through the issuance of equity shares and/or foreign currency .

Market, BSE, NSE, NIfty, Stock Market, investment

The fund raising committee of the board, at its meeting held on December 2 has, inter alia, considered and approved authorising the opening of the issue today

Gaming and sports media firm Nazara Technologies' board has approved five investments worth Rs 196 crore, including 100 per cent acquisition of stake in Sportskeeda owner firm Absolute Sports, the company said in a regulatory filing on Monday.
Of the total Rs 196 crore, Nazara will invest Rs 148 crore in existing subsidiaries, including Sportskeeda, Nodwin Gaming, and Datawrkz, to increase its ownership in them and support their growth.
The company will invest Rs 69 crore to purchase shares arising from exercise of ESOPs from the Sportskeeda management to increase its stake to 100 per cent in the company, making it a wholly owned subsidiary.
Nazara Technologies board approved investment of Rs 64 crore in its subsidiary Nodwin Gaming. The investment will be done through subscription of optionally convertible preference shares.
The funds will support Nodwin's expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets, according to the ...

Nazara Technologies

Of the total Rs 196 crore, Nazara will invest Rs 148 crore in existing subsidiaries, including Sportskeeda, Nodwin Gaming, and Datawrkz, to increase its ownership in them and support their growth

Ma joined Nissan in 1996 in North America and worked in financial roles in China and Japan before being promoted to CFO in December of 2019

NISSAN

Byju's US-based lenders had opposed the settlement, claiming that the money used to repay BCCI was tainted as it was part of the $533 million that had allegedly gone "missing"

Byju's

Rating agency ICRA on Monday said it expects sequential revenue growth for India Inc in the December quarter, led by improved rural demand and uptick in government spending, additionally supported by the festival season.
However, headwinds such as uneven urban demand and evolving global uncertainties could weigh on growth in the second half of the fiscal, it said.
On balance, ICRA said it expects the operating profit margin (OPM) for India Inc to improve in the coming quarters.
As a result, the credit metrics of India Inc in the October-December period of FY25 are estimated to improve with the interest coverage ratio in the range of 4.5-5 times, against 4.1 times in Q2 FY25, the agency said.
Commenting on the trends, Kinjal Shah, Senior Vice President and Co-Group Head -- Corporate Ratings, ICRA -- said while corporate India witnessed a muted sequential revenue growth in Q2 FY2025, led by the ongoing slowdown in urban demand, lower government spending amid monsoon-related disruptio

ICRA

However, it said that headwinds such as uneven urban demand and evolving global uncertainties could weigh on growth in the second half of the fiscal

The bonds, rated 'AA' by domestic rating agencies CRISIL and IndiaRatings, have a base size of Rs 500 crore and a green-shoe option of Rs 2,500 crore

Bonds

Gelsinger, who resigned on Dec. 1, left the company before the completion of an ambitious and costly four-year plan to restore the company's lead in making the fastest and smallest computer chips

Pat Gelsinger, CEO, Intel

This collaboration aims to empower businesses and end customers with critical knowledge to protect themselves while promoting widespread awareness about cybersecurity across India

Razorpay

Funding in the sector has increased by 153 per cent year-on-year (Y-o-Y), reaching $608.8 million across 68 deals in 2024 so far

Online, learning, education, schools, students, Edtech

Following the imposition of restrictions on Navi, the lender cancelled a scheduled fund raising activity of Rs 100 crore. Rating agency CRISIL had also put Navi's ratings on "rating watch"

Reserve Bank of India, RBI

Fresh out of bumper USD 350 million funding this time from marquee domestic investors, quick commerce company Zepto says it is on a clear path to becoming a full Indian-owned entity and hitting PAT positive milestone, as co-founder and CEO Aadit Palicha exudes optimism about a possible IPO in 2025.
In an interview with PTI, Palicha strongly countered allegations about the quick commerce model disrupting and stunting the growth of traditional kirana stores. He asserted that these and other "narratives" are not grounded in real data and underrate the "net positives" achieved so far by the industry, including job creation.
Palicha further said that instant 10-minute delivery models like that of Zepto have generated lakhs of jobs, been wage-additive, and created all-around "value" for both consumers and workers.
Moreover, the quick commerce model executed at a scale for groceries and items of daily use is unseen, unmatched globally, he said adding that this goes to showcase the unique .

Aadit Palicha

Palicha further said that instant 10-minute delivery models like that of Zepto have generated lakhs of jobs, been wage-additive, and created all-around "value" for both consumers and workers

He talks about the issues with TAFE and the future roadmap in one of the company's first interviews since the 'tractor war' began

Luis Felli, senior vice president and general manager for Massey Ferguson (Global)

Aster coming together with Blackstone-backed Quality CARE will become one of the top three platforms in India, said Alisha Moopen, Deputy Managing Director of Aster DM Healthcare

Alisha Moopen, Deputy Managing Director, Aster DM Healthcare

He says SBI is comfortable with liquidity with overall credit deposit ratio at a modest 68 per cent and the aim is to maintain incremental CD ratio at 100 per cent

SBI Chairman Setty

Jamshyd Godrej and Nyrika Holkar talked about the development of 1,000 acres of prime land in Mumbai, future investment plans, and the need for brand change

Jamshyd Godrej, Chairman & Managing Director, Godrej & Boyce on occasion with seen Nyrika Holkar, Executive Director  (Pic: Kamlesh Pednekar)

We will close this year with 130 operating hotels and add almost 20 operating hotels next year, said Nikhil Sharma, MD,  South Asia, Radisson Hotels group

Nikhil Sharma, Radisson

He highlighted that private wealth investors are diversifying portfolios and prioritising stable, income-generating assets

Lee Elliott, partner and global head of occupier research at Knight Frank

Ervin Tu and Ashutosh Sharma of Prosus talk about their strategies for India and beyond

Chief Investment Officer Ervin Tu and Ashutosh Sharma, head of growth investments for India and Asia at Prosus

The steel industry is clearly in a down-cycle

Koushik Chatterjee

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