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

SBI recruits 505 probationary officers as part of its 18,000-person hiring drive to enhance process and delivery nationwide, with a focus on skill development and service

SBI, State Bank Of India

Shareholders on record as of June 24 will be eligible for the dividend, if declared; Vedanta declared ₹43.5 per share in interim payouts during FY25

Vedanta

Serum Institute and DNDi sign MoU to develop and scale a dengue monoclonal antibody vaccine with Phase 3 trials in India, Brazil and other endemic countries

Adar Poonawalla, chief executive officer (CEO) of Serum Institute of India

Adar Poonawalla, chief executive officer, Serum Institute of India

Pune-based realty group Mont Vert Group has signed a USD 500 million (around Rs 4,300 crore) contract with Kazakhstan's Big B Corp for developing a medical university and a hospital, according to a statement.
Mont Vert Group will be responsible for the construction and development activities related to the project, UK-based SRAM & MRAM Group said in the statement.
UK-based SRAM & MRAM Group in partnership with Big B Corporation and KAZIND Medical Group of Kazakhstan is developing a private healthcare facility in Kazakhstan.
The agreement was made possible through the efforts of Big B Corporation Director Ajay Bhandari and SRAM & MRAM Group Director Mahendra Joshi, the statement said.
The group in October last year announced getting approval from the Kazakh government for 243 hectares of land at Astana and 100 hectares at Almaty for Medical University, a multi-specialty Hospital and a 5-star hotel.
The medical college will teach 10,000 students and have a multi-specialty ...

India-Kazakhstan flag, India Kazakhstan

Mont Vert Group will be responsible for the construction and development activities related to the project, UK-based SRAM & MRAM Group said in the statement

TMB board appoints veteran banker K Ramachandran as Additional Director for three years and clears his name for part-time chairman, pending RBI approval

Iqbal Khan joins Cyril Amarchand Mangaldas as Partner in the Corporate Practice, bringing deep transactional experience across sectors to the firm's Mumbai office

Cyril Shroff, Managing Partner of Cyril Amarchand Mangaldas

ICRA has entered into a definitive agreement to acquire Fintellix India, a provider of risk and reporting solutions to global financial institutions, for USD 26 million.
In a stock exchange filing, ICRA said its board has granted approval for the acquisition of 100 per cent shareholding in Fintellix India Pvt Ltd for a consideration of INR equivalent to USD 26 million by way of a secondary purchase, pursuant to execution of a share purchase agreement and other transaction documents.
Commenting on the development, Ramnath Krishnan, MD & Group CEO of ICRA, said, "With this acquisition, we reiterate our commitment to being a leading risk technology player. This space is fast evolving with increasing regulatory scrutiny in financial markets, and we believe Fintellix and ICRA together will better address the emerging market needs."
The rating agency said the acquisition will additionally strengthen ICRA Group's portfolio of credit risk assessment and monitoring tools by adding risk ...

Mergers and acquisitions, M&A, deals

Fintellix, a Bengaluru-based product-led company, specialises in risk, supervisory, and data analytics solutions on its proprietary data platform

Other emerging tools also include virtual reality, which is being explored for exposure therapy and immersive stress reduction

tension

Voice assistant expands features with Perplexity tie-up as Fireflies crosses $1 bn valuation and sees sharp growth in enterprise AI-powered meeting productivity tools

Krish Ramineni

A Tracxn report commissioned by RTP Global finds operator-led startups outperform others in funding speed, size and Seed-stage success across 2022-24 in India

Startups, Indian startups

Gen Z job seekers and metro city users are driving the rapid adoption of Apna's AI Job Prep tool, which simulates interviews and offers real-time feedback

artificial intelligence, software engineer, Technology, GPT

In Q4 FY25, we recovered around Rs 1,666 crore, taking the total recovery for the full year to Rs 4,400 crore, Ashwani Kumar said

Ashwani Kumar, MD & CEO, Uco Bank

Boman Irani said that the company will launch a senior living project, get into data centers and will divest 3.35 per cent to meet Sebi norms to partially fund capex

Boman Irani, Chairman and Managing Director, Rustomjee Group

Airbus aims to boost A320 family aircraft production rate to 75 per month by 2027 as supply chain stabilises, says Chief Commercial Officer Benoît de Saint-Exupery

Image

Sudipta Roy said that the transfer of the gold business of Paul Merchants Finance will be completed by June 15

Sudipta Roy, MD & CEO, L&T Finance

Jana Small Finance Bank's Managing Director and Chief Executive Officer discusses the bank's future plans and growth strategy

Ajay Kanwal, MD& CEO, Jana SFB, at the Business Standard BFS! Insight Summit 2024 in Mumbai.

We're currently in over 35 cities with taxis and aim to be present in every district headquarters, says Rapido

Rapido cofounders Pavan Guntupalli (right) and Aravind Sanka

Human memory is very short. The demand for health insurance is still fine, we still have a double digit growth, Tapan Singhel said

Tapan Singhel, managing director (MD) and chief executive officer (CEO), Bajaj Allianz General Insurance

Acquisitions are a high risk strategy; there are advantages in utilizing one's own strengths

Abhijit Roy, MD & CEO, Berger Paints

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