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

General Motors is recalling more than 449,000 of its SUVs and pickup trucks because the electronic brake control module software may fail to display a warning light when a loss of brake fluid takes place.
The National Highway Traffic Safety Administration said Friday that the recall includes certain 2023-2024 Cadillac Escalade and Escalade ESVs, 2023 Chevrolet Silverado 1500, 2023-2024 Chevrolet Tahoe and Suburban 1500, 2023 GMC Sierra 1500, 2023-2024 GMC Yukon and Yukon XL models.
The agency said that without the warning light, a vehicle may be driven with low brake fluid, which can reduce braking performance and increase the risk of a crash.
A free software update will be provided to vehicle owners.
Owner notification letters are expected to be mailed Oct 28. Vehicle owners can contact GMC customer service at 1-800-462-8782, Chevrolet customer service at 1-800-222-1020, or Cadillac customer service at 1-800-458-8006.

General Motors

The agency said that without the warning light, a vehicle may be driven with low brake fluid, which can reduce braking performance and increase the risk of a crash

According to CITU, around 90 per cent of the total 1723 workers of the Sriperumbudur plant are participating in the strike

Samsung India

Reacting to the death of an EY employee allegedly due to 'overwork', Minister of Labour and Employment Mansukh Mandaviya said that action will be taken based on whatever facts are revealed in the investigation.Mansukh Mandaviya said, "Be it a white collar job or any worker, whenever a citizen of the country dies, it is natural to be saddened by it. The matter is being investigated, and action will be taken based on whatever facts are revealed in the investigation."Earlier Ernst  &  Young (EY) issued a statement expressing deep sadness over the tragic passing of 26-year-old chartered accountant, who died on July 20 due to allegedly work-related stress.The statement comes after a heart-wrenching letter written by victim's mother went viral on social media, alleging that EY's work culture and excessive workload contributed to her daughter's demise.In the letter, her mother detailed the victim's struggles with anxiety, sleeplessness, and stress due to an overwhelming workload, citing .

Mansukh Mandaviya, Mansukh, Mandaviya

Earlier Ernst & Young (EY) issued a statement expressing deep sadness over the tragic passing of 26-year-old chartered accountant, who died on July 20 due to allegedly work-related stress

An investment of over Rs 3 lakh crore is needed every year in the renewable energy sector to take India's installed green capacity to 440 gigawatt, Icra experts said on Friday.
"We expect India to have 440 gigawatt installed capacity of renewable energy by 2030," Vikram V, Vice President & Co-Group Head - Corporate Ratings, ICRA Ltd said at a media roundtable.
The estimated capacity would require incremental investment of at least Rs 3 lakh crore every year over the next five to six years, Girish Kumar Kadam, Group Head Corporate Sector Ratings at ICRA Ltd.
He further said to meet the renewable purchase obligation (RPO) target of 43 per cent by 2030, the renewable energy capacity should more than double to 440 GW from the current level of 200 GW.
The government's target is to have 500 gigawatt of installed renewable energy capacity by 2030.
Sharing his outlook for the RE sector, Kadam said India has made significant progress in renewable energy capacity addition with a strong ...

The commercial and industrial segment is looking lucrative  for energy companies and investors alike

The government's target is to have 500 gigawatt of installed renewable energy capacity by 2030

E-commerce major Amazon India has launched a new generative AI-powered conversational shopping assistant, Rufus, ahead of the start of its festive sale event.
Rufus enables natural language interactions within the Amazon app, making it easy to ask product-related questions, get recommendations, or compare products, the company said.
"Whether typing or speaking, customers can now enjoy a more intuitive shopping experience, further enhanced by AI-powered tools like personalised recommendations and Alexa for seamless shopping assistance," Saurabh Srivastava, Vice President, Categories, Amazon India said.
It has also introduced AI-Generated Review Highlights, which make use of Generative AI to provide concise summaries of customer reviews.
This feature gives customers quick insights into product sentiment and key attributes, allowing them to make more informed decisions with ease.
It also helps customers navigate specific product attributes, such as 'ease of use' by tapping on relevan

amazon

It has also introduced AI-Generated Review Highlights, which make use of Generative AI to provide concise summaries of customer reviews

Shah points out that the agency has conducted a dipstick study on the first day to gauge consumer sentiment and traction

i phone 16, Apple, i Phone

Using the chatbots enabled downloading policy and claims documents featuring names, phone numbers, addresses, tax details, copies of ID cards, test results and medical diagnoses

Star Health Insurance

Fund II will invest in 17-20 companies, offering initial investments between $750,000 and $1 million, with total commitments of $2-3 million per company over their growth cycles

venture capital

DPIIT, which comes under the commerce and industry ministry, has referred a complaint of alleged unfair business practices against quick commerce players to the Competition Commission, according to sources.
The complaint was submitted by the All India Consumer Products Distributors Federation (AICPDF) to the Union Commerce and Industry Ministry.
Quick commerce platforms are those that typically deliver goods within 10 to 30 minutes.
The Competition Commission of India (CCI), which works to ensure fair business practices across sectors in the marketplace, is already looking into alleged anti-competitive ways of e-commerce companies.
The sources in the know on Friday said the Department for Promotion of Industry and Internal Trade (DPIIT) has referred a complaint made against quick commerce players to CCI.
There was no immediate comment from CCI on the issue.
When contacted for comments on the complaint, AICPDF President Darshil Patil said he has come to know that the letter writte

e-commerce

The complaint was submitted by the All India Consumer Products Distributors Federation (AICPDF) to the Union Commerce and Industry Ministry

Edtech unicorn PhysicsWallah said on Friday it has raised USD 210 million in a funding round led by Hornbill Capital at a 2.5 times higher valuation of USD 2.8 billion.
Lightspeed Venture Partners, along with existing investors GSV and WestBridge, also participated in the funding round.
"PhysicsWallah Pvt Ltd (PW) has closed its series B funding round, raising USD 210 million. This investment brings the company's post-money valuation to an impressive USD 2.8 billion, 2.5x (times) jump over its last valuation of USD 1.1 billion," the company said in a statement.
There has been a long dry spell of significant funding in the Indian edtech sector with a significant dip in the valuation of large edtech firms.
"PhysicsWallah's funding round serves as a beacon of optimism amidst challenging times for the edTech sector, showcasing the unwavering confidence of both existing and new investors in PhysicsWallah's growth and its mission to democratise education across India," the company said.

Alakh Pandey, founder and CEO, PhysicsWallah.

There has been a long dry spell of significant funding in the Indian edtech sector with a significant dip in the valuation of large edtech firms

Nykaa has expanded its supply chain network to 44 warehouses across India by FY24, up from 18 in FY21

Nykaa, FSN, Makeup, E-commerce

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

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

Anuj Tyagi discusses the insurers' plans on the focus areas of the retail line of businesses

Anuj Tyagi, MD & CEO, HDFC ERGO  General Insurance

He gives insights into the plans to increase margins for Firstsource in the next 30 months through organic and inorganic growth

Sanjiv Goenka, Chairman, RPSG

We are very quickly going to announce the timeline of our launches, which should start giving us the turnaround, MD and CEO Venkatram Mamillapalle

Venkatram Mamillapalle, CEO & Managing Director, Renault India

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

Companies News: Get latest company news, company results, company interviews, company financials, company analysis, company disclosure, corporate news, company announcements at Business Standard.

Company News: Company Business News, Indian Companies News, Company Analysis, Corporate Industry News

Get latest company news, company results, company interviews, company financials, company analysis, company disclosure, corporate news, company announcements at Business Standard.

Companies

Start Ups

People

Results Corner

Result Calendar

Brokerage Reports

Result News

Interview