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

The outlook for both ratings has been revised to stable. In addition, AM Best has reaffirmed GIC Re's India National Scale Rating (NSR) of aaa.IN (Exceptional) with a stable outlook

General Insurance Corporation of India, GIC Re

Indian billionaire Gautam Adani-led conglomerate has signed a pact to build and operate key electricity transmission lines in Kenya for 30 years, the African nation's Cabinet Secretary for Energy Opiyo Wandayi said.
Adani Energy Solutions Ltd signed a project agreement with the Kenya Electricity Transmission Company Ltd (Ketraco).
"This agreement marks the beginning of a transformative initiative to develop, finance, construct, operate, and maintain key transmission lines and substations across Kenya," he said in a press statement.
Kenya faces persistent power blackouts and the projects awarded to Adani are to upgrade the country's transmission infrastructure to ensure reliable power.
"As part of this infrastructure development, the project company (AESL) will raise all the funding in the form of debt and equity that will be repaid over the 30-year period of the project agreement," he said. "The project cost, that is currently estimated at Kenyan shilling 95.68 billion (USD 736 ...

Adani Enterprises, Adani group

Adani Energy Solutions Ltd signed a project agreement with the Kenya Electricity Transmission Company Ltd (Ketraco)

Drug firm Wockhardt on Friday said the national drug regulator has accorded a favourable recommendation for its novel antibiotic developed for the treatment of community-acquired bacterial pneumonia (CABP) in adults.
The Subject Expert Committee (SEC) of the Central Drugs Standard Control Organisation (CDSCO) has provided a favourable recommendation for Miqnaf (nafithromycin), the drug firm said in a statement.
The SEC recommendation is based on CDSCO's comprehensive review of the product dossier consisting of non-clinical, US/EU Phase 1, Global Phase 2 and India Phase 3 clinical studies conducted over the last 15 years, it added.
A positive opinion from the SEC of CDSCO would pave the way for gaining DCGI's final approval for Miqnaf, the company stated.
Miqnaf is the once-a-day 3-days-only treatment for CABP patients, including those caused by multi-drug resistant (MDR) bugs.
CABP is the most common infection, leading to hospitalisation and death. Globally, 2.4 million annual dea

pharma medicine drugs

A positive opinion from the SEC of CDSCO would pave the way for gaining DCGI's final approval for Miqnaf, the company stated

In August, AICPDF also wrote to the Ministry of Commerce and Industry regarding the rapid growth of the quick commerce industry, which it said is hurting the trade

retail store shopping, fmcg shopping

Consumer rights regulator CCPA has slapped a notice on electric two-wheeler manufacturer Ola, as it initiates a class action after over 10,000 complaints related to quality and after-sales service remained unaddressed, according to sources.
The National Consumer Helpline (NCH) has been getting complaints against Ola Electric for the last one year, which were escalated to higher levels at the company for redressal "but there was little interest shown in redressing these complaints", said a source.
Subsequently, the Central Consumer Protection Authority (CCPA) "started examining these complaints for class action and found that over the last one year, NCH received over 10,000 complaints", the source added.
According to the source, the major categories of consumer complaints include charging during the free service period/warranty, delayed and unsatisfactory services, refusal or delay in warranty services, inadequate services, recurrent defects despite services, inconsistent performance

ola electric two wheeler ev

As per the CCPA, the major grounds for issuing show cause notice are alleged violation of consumer rights, deficiencies in services, misleading claims, and unfair trade practices

Now, three years since Ford's exit, the used car market is seeing higher demand for Ford vehicles

Ford

Purushottam Mandhana, promoter of Mandhana Industries, used business loans for personal benefit and caused a loss of Rs 975 crore to a Bank of Baroda-led consortium of lenders, the Enforcement Directorate has said in its charge sheet.
Observing that there was a prima facie case against Mandhana and others, a special court for Prevention of Money Laundering Act (PMLA) cases here earlier this month directed the accused to remain present in the court on November 21.  The charge sheet filed by the ED named 18 persons as accused, including Purushottam Mandhana, his wife Prema and son Priyavrat.
Special judge A C Daga took cognizance of the charge sheet on October 1, saying there was a clear, prima facie case under the PMLA.
"All accused persons appear to have been involved in this process of money laundering and ultimately tried to make tainted money untainted," the court noted and issued summons to them.
The charge sheet said that Palghar-based Mandhana Industries is into manufacturing

Enforcement Directorate

Special judge A C Daga took cognizance of the charge sheet on October 1, saying there was a clear, prima facie case under the PMLA

The program will provide mentorship, masterclasses, networking, and funding opportunities, along with credits worth $500,000 from over 30 technology partners

Bhavin Pandya, co-founder and co-CEO, Games24x7

Sonal Sinha, who joined Oyo in 2015, will be responsible for overseeing Oyo's international business operations, revenue, and spearheading strategic initiatives across the US

Oyo, Oyo townhouse

Following Zomato CEO Deepinder Goyal's remark on Delhi being a better option for startups, Bombay Shaving Company CEO Shantanu Deshpande has also seconded Goyal

Shantanu Deshpande, Founder & CEO, Bombay Shaving Company.

Shantanu Deshpande

Many of the dozens of Indian startups that once chose to be based abroad for better access to capital and smaller tax bills are now queuing to return home

AstraZeneca Pharma India Managing Director and Country President, Sanjeev Panchal, talks to Shine Jacob about the company's future plans in an interview

Sanjeev Panchal, Country president & managing director, AstraZeneca  Pharma India

Kurek discusses Oriflame's commitment to the direct-selling model, its plans to expand its women-led sales force, and how India remains a priority market

Edyta Kurek, senior vice president of Oriflame India and Indonesia

India is expected to have a fair share of the €22-25 billion in investments the firm has planned over a three-year period between 2023 and 2025

Catherin Macgregor, Group CEO and board member, ENGIE

The 88-year-old designer, author of books like The Design of Everyday Things, Emotional Design, Design for a Better World was in India as advisor to BITS Design School, Mumbai, for a three-city tour

Don Norman

Deborah talks about the firm's high-yielding investment in Physics Wallah, the decision to not invest in beleaguered edtech firm Byju's, and investment strategy in India

Deborah Quazzo

Varun Berry and Cecile Beliot discuss capturing a larger share of the cheese market in India

Cecile Beliot, chief executive officer of Bel Group (left) and Varun Berry, executive vice-chairman and managing director of Britannia Industries

Unsoo Kim, president, CEO and MD, Wangdo Hur, executive director and CFO, and Tarun Garg, whole time director and COO of Hyundai Motor India outline their plans

(From left) Wangdo Hur, executive director and CFO, Unsoo Kim, president, CEO and MD, and Tarun Garg, whole time director and COO of HMIL - Kamlesh Pednekar

Momentum back; wish next CEO from within Cognizant: Ravi Kumar S

Ravi Kumar S, CEO, Cognizant

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