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

Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary.
The company has entered into a binding agreement on September 18, 2024, with GLS Pharma Ltd and its promoters for acquisition of remaining 5,90,361 equity shares of Rs 10 each amounting to 49 per cent stake for a purchase consideration of Rs 22.5 crore. The shares are being acquired at a price of Rs 381.12 per share, Aurobindo Pharma said in a regulatory filing.
"This acquisition is undertaken to hold the entire ownership of GLS by the company," it said, adding that the transaction is estimated to be completed before December 31, 2024.
Aurobindo acquired a 51 per cent stake in GLS Pharma from promoters Suresh Pathak and his family members on June 17, 2022.
GLS is engaged in oncology products, which include orals and injectables used in chemotherapy for solid malignancies, chemotherapy for hematological malignancies an

pharma medicine drugs

"This acquisition is undertaken to hold the entire ownership of GLS by the company," it said, adding that the transaction is estimated to be completed before December 31, 2024

Tata Power Renewable Energy Ltd (TPREL) has committed an investment of Rs 75,000 crore to achieve 20GW of operational capacity by 2030, a top company official said.
Talking to PTI Videos on Tuesday, TPREL President Deepesh Nanda said that the company is already operating 5 GW capacity and has another 5 GW under construction.
"We have committed to take this number all the way to 20 GW operational capacity by 2030," he said.
To achieve this target, TPREL has committed an incremental investment of Rs 75,000 crore, he said adding that the company may meet these goals, possibly ahead of schedule.
"We have just commissioned a massive 4.3 GW module manufacturing facility in Tirunelveli, which will further support our growth plans," Nanda added.
Tata Power Renewable Energy Ltd is a subsidiary of Tata Power Ltd.

solar energy, solar, solar panel

Talking to PTI Videos on Tuesday, TPREL President Deepesh Nanda said that the company is already operating 5 GW capacity and has another 5 GW under construction

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders.
In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore.
"The investors were across provident funds, pension funds, mutual funds, banks etc," SBI said.
SBI Chairman C S Setty said the wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank.
The bonds are issued for a tenor of 15 years and have a coupon rate of 7.33 per cent.
This is the second Basel III-compliant Tier 2 bond issuance for the current fiscal.
"The bank has decided to accept Rs 7,500 crore at a coupon rate of 7.33 per cent payable annually for a tenor of 15 years with call option after 10 years and each anniversary dates thereafter," SBI said.
Basel III is a set of international banking ..

SBI, State Bank Of India

In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore

The dispute centres on an alliance agreement between Zee and Star India valued at $1.4 billion for the broadcasting rights for International Cricket Council (ICC) events

The Hyderabad-based company will use the fresh capital to expand market reach, improve artificial intelligence (AI) capabilities, and advance product development.

dollars

Tata Power Renewable Energy on Wednesday said it has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL).
Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has successfully secured a Letter of Award (LoA) from MSEDCL, a wholly-owned entity under the Maharashtra government, for the development of a 400 MW wind-solar hybrid project in Maharashtra, a statement said.
The company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL.
The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal.
The project is expected to be completed within 24 months from the signing of the Power Purchase Agreement (PPA) between TPREL & MSEDCL and will play a crucial role in cutting carbon ..

Energy, Solar energy, Wind Energy

The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal

Company provides loans to low-income customers and businesses in informal economy

Kaleidofin

In just 10 months since its launch in India, Schmooze said it has attracted over 1 million users and witnessed 900 million meme swipes

Vidya Madhavan, Founder, Schmooze

The diagnostics service provider will use the funds to open more labs and collection centres, along with an expansion of its home collection network

Startup funding

By transitioning qualified delivery partners into the role of sales executives, Project Next aims to enhance restaurant expansion across over 150 growing markets

swiggy

The programme- Project Next- is part of Swiggy's larger initiative Swiggy Skills, which was announced earlier this month with the Ministry of Skill Development and Entrepreneurship

The minister said that the company can be industry-led, similar to Invest India-a key body that pushes investments

Union Minister Piyush Goyal aunched the Bharat Startup Knowledge Access Registry (BHASKAR) | Photo: X / @PiyushGoyal

There is a vast universe of fintechs out there and we would be reaching out to everyone to be a part of FACE. We do not have a threshold of scale or business model, said Sugandh Saxena, CEO, FACE

Sugandh Saxena, CEO, FACE

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

Sushant Dash, CEO, Tata Starbucks

India's skilled workforce and rise of global capability centres helping demand for commercial real estate, says Karan Singh Sodi

Karan Singh Sodi, senior managing director of the Mumbai metropolitan region and Gujarat and head of alternatives, India, at global real estate investment manager JLL

Rowe talks about Syngenta's strong presence in India for a long time

Jeff Rowe, CEO, Syngenta

To tackle the growing load on its service outlets, M&M is increasing productivity, expanding bay capacity, and rolling out remote software updates

Nalinikanth Gollagunta

Sharma talks about Bajaj's mega electric vehicle play

Rakesh Sharma, executive director, Bajaj Auto

He says AI provides a huge opportunity for Indian languages to expand their reach

Vishnu Vardhan, founder, SML Generative AI

BYD plans to expand its sales touchpoints, aiming to double their number within the next 6 to 8 months, Rajeev Chauhan said

Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business, BYD India

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