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

After the US Supreme Court signaled it was likely to uphold a law banning the popular TikTok social media app, a reported 700,000 new users flooded onto the Chinese app, Xiaohongshu

Tiktok

Country's leading retailer Reliance Retail as part of its expansion into the luxury segment is introducing Saks Fifth Avenue, an American luxury department store chain to the Indian market..
Its "premium brands business entered into India franchise arrangement for Saks Fifth Avenue," said Reliance Industries in its earning statement on Thursday.
Saks Fifth Avenue an American luxury department store, is a premier destination for luxury fashion. Since its inception in 1924, it has featured an expertly curated assortment of fashion and highly personalised customer service.
It operates a network of 41 stores across North America.
"So to address the super Luxury segment in India, we entered into a franchise for India with Saks, Fifth Avenue, which is a global luxury retailer," said Reliance Retail CFO Dinesh Taluja during the earnings call.
Reliance's Premium Brands business has also entered into a JV with Mothercare PLC to acquire the Mothercare brand and its IP assets for the Indian 

AB Fashion in talks with RIL and Maker group to open Saks stores

Country's leading retailer Reliance Retail as part of its expansion into the luxury segment is introducing Saks Fifth Avenue, an American luxury department store chain to the Indian market..

Management expects tech and sustainability to continue the growth momentum in the near-to-medium term, while mobility is to remain muted in Q4 but should rebound by FY26

Larsen & Toubro

Ahead of a looming ban on TikTok in the United States, US senators have alleged that the Chinese Communist Party-owned platform has interfered in the elections of various countries, including India. A group of lawmakers has called for extending the deadline to shut it down.
Participating in a debate on TikTok, the lawmakers also applauded India's ban on the social media platform which is highly popular among teenagers and youths.
As per a law signed by President Joe Biden a year ago, TikTok faces a ban from US app stores unless the Chinese parent company ByteDance Ltd. divests its American arm by Sunday, January 19.
TikTok meddles in the politics of other countries by amplifying divisive content in for instance, Israel, India and of course America. Don't forget that TikTok harvests a vast trove of user data including name age, email address, phone number, credit card number, facial features, voice prints, keystrokes photos, videos and viewing habits, Senator Tom Cotton said on the .

TikTok

As per a law signed by President Joe Biden a year ago, TikTok faces a ban from US app stores unless the Chinese parent company ByteDance Ltd. divests its American arm by Sunday

The company's revenue from operations stood at Rs 79,595 crore, up 7.0 per cent year-on-year, while its gross revenue from operations increased by 8.8 per cent to Rs 90,333 crore

q3 results

The firm bet against publicly listed companies they believed had accounting issues, was being mismanaged or committing fraud, typically following a long period of investigation

Hindenburg Research

Investment proposals worth Rs 32,520 crore received at RIC Shahdol, over 30,000 jobs expected to be created

Mohan Yadav

The GOVs of all the quick commerce players have been growing strongly. In case of Zomato and Swiggy, the GOV growth has been faster than their food delivery business

How Competition Law plans to regulate digital economy, plug loopholes

Commerce and Industry Minister Piyush Goyal on Thursday assured "excellent" support to startups and said domestic investors are now also recognising capabilities and the value proposition of investing in these enterprises.
As per estimates, he said Indian startups have attracted about Rs 13 lakh crore funding in the last nine years, that is about USD 150 billion.
On average, startups are receiving about USD 15 billion of funds every year and in a good year, it can go up to USD 22-25 billion, he said at the celebration event of nine years of Startup India here.
"I promise you we are going to have excellent support, now also from domestic investors who are more and more aligning themselves with the startup India vision, who are more and more understanding the capabilities of young India and they are recognising the value proposition that you bring to the table," he said.
He added that funding instruments like the Fund of Funds Scheme (FFS), which is administered by SIDBI and financed

Piyush Goyal, Union Minister for commerce and industry

On average, startups are receiving about $ 15 billion of funds every year and in a good year, it can go up to $ 22-25 billion, he said at the celebration event of nine years of Startup India here

As the country celebrates the 9th edition of Startup India, the ecosystem now boasts over 1.59 lakh DPIIT recognised startups and 110 unicorns, making it the third-largest globally

Startups, Indian startups

GOV represents the total value of all orders placed before any deductions for returns, cancellations, or discounts

Zepto

There may not be any major changes in direct taxation, given that simplification has already been carried out in recent years

Vetri Subramaniam, Chief Investment Officer, UTI AMC

Modern lending ecosystems now have access to richer data through alternate data sources such as Account Aggregators (AA)

Joydip Gupta, head of Asia Pacific at Scienaptic AI

JNPA is expected to maintain steady growth, focusing partly on the under-construction Vadhvan Port

Unmesh Wagh, IRS, chairperson of JNPA and chief managing director of Vadhvan Port Project Ltd.

Rossell Techsys MD Rishab Gupta discusses the firm's demerger from Rossell India and its entry into the space sector, highlighting a Rs 2,800 crore order book and a focus on defence and civil aviation

Rossell Techsys Managing Director Rishab Gupta

Says he expects a fall in the cost of funding after the acquisition amid stronger capital position and better credit rating

Ravi Subramanian, managing director (MD) and chief executive officer (CEO), Truhome Finance

He highlighted shifting demand dynamics, uncertainty, and the evolving role of generative artificial intelligence (GenAI)

C Vijayakumar, CEO & MD,  HCLTech

The hospitality giant has cash and cash equivalent of Rs 1,500 crore

Anil Chadha

He talks about why this quarterly decline is not indicative of a slowdown in demand, and how TCS is positioning itself as an AI-first organisation

Milind Lakkad, chief human resource officer (CHRO)

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