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

E-commerce company Flipkart on Saturday said it saw a multi-fold jump in customers' purchases using credit facilities during the first two days of its annual festive season sale 'The Big Billion Days'.
The Walmart group firm recorded 27 times jump in the third-party easy monthly instalment (EMI) usage during The Big Billion Days' compared to usual business days.
"With 5 per cent cashback on every purchase using the Flipkart Axis Bank credit card, the co-branded card witnessed a spike of 20 times in overall spends and eight-fold transactions when compared to the non-sale days. Flipkart Pay Later EMI witnessed a 8.5 times spike in the daily transactions run rate compared to the pre-TBBD period," the company said.
Flipkart said that it has recorded over 33 crore user visits, implying repeat visits of individuals several times on the platform, during the first two days of The Big Billion Days (TBBD), which started on September 26 for select users and on next day for everyone.
The compa

Flipkart

In the early trends, Flipkart observed growing demand across mobiles, food and nutrition and grooming categories as well as increase in demand from tier 2 and beyond cities

The Competition Commission of India (CCI) approved the Rs 70,350-crore merger between Reliance Industries and Disney's Indian media assets on August 28, 2024

Disney, Reliance

The Centre has again approved a coal mining project operated by an Adani Group company in Chhattisgarh's Raigarh district, just six months after the National Green Tribunal (NGT) revoked its environmental clearance, directing the environment ministry to reexamine the case from the stage of the public hearing.
There was no reaction available from the Adani Group till the filing of this report.
The Rs 7,465-crore coal mine project, which will affect 14 villages in the Gare Palma area of Tamnar tehsil, belongs to the Maharashtra State Power Generation Company (Mahagenco), with Gare Palma II Collieries Pvt. Ltd., an Adani Group company, as the mine developer and operator.
The environmental clearance has been granted despite studies highlighting serious concerns about the project's impact on the socio-economic and health conditions of villagers, hydrology, and carrying capacity, suggest government records.
Congress leader Jairam Ramesh criticised the Centre for granting clearance again 

Adani Enterprises, Adani group

Environmental clearance has been granted despite studies highlighting serious concerns about the project's impact on the socio-economic and health conditions of villagers, hydrology, and capacity

Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which sells dairy products under Amul brand, on Saturday said its turnover has increased by 8 per cent to Rs 59,445 crore in the financial year ending March 2024 on better sales.
"In the Golden Jubilee year of GCMMF, the organization registered a turnover of Rs 59,545 crore (USD 7 billion) for the financial year 2023-24 with a growth of 8 per cent year-on-year," the cooperative said in a statement after its 50th annual general meeting.
The group turnover of brand Amul reached Rs 80,000 crore (USD 10 billion) in 2023-24 from Rs 72,000 crore (USD 9 billion) in 2022-23.
Amul has been ranked as the world's strongest food brand and the strongest dairy brand as per Brand Finance, UK, world's leading brand consultancy.
GCMMF said it is the world's largest farmer-owned dairy cooperative having 36 lakh farmers across 18,600 villages of Gujarat and its 18 member unions procure 300 lakh litres of milk per day.
GCMMF also ranks 8th a

Amul

Amul has been ranked as the world's strongest food brand and the strongest dairy brand as per Brand Finance, UK, world's leading brand consultancy

State-owned REC Ltd on Saturday said it has raised USD 500 million through green dollar bonds to support various renewable energy projects.
The 5-year note has a coupon rate of 4.75 per cent per annum to be paid semi-annually and the maturity date of September 27, 2029. This is the first US dollar bond issuance from an Indian public sector enterprise in 2024, REC said in a statement.
The latest fund raise was part of USD 10 billion global medium-term programme of the company.
The proceeds will be used to finance eligible green projects, in accordance with REC's Green Finance Framework as per green bond principles of Climate Bond Initiative, London and RBI's ECB guidelines, with a second-party opinion from Sustainable Fitch, it said.
"The overwhelming demand for our green bonds, amidst a challenging global financial environment, reflects the established standing of India as a key player in the green finance market," said Vivek Kumar Dewangan, CMD of REC Ltd.
The notes will be rated

Photo: REC Limited

Barclays, DBS, HSBC, Mizuho, MUFG, and Standard Chartered Bank are the joint bookrunners for the issue, the statement said

SoftBank-backed e-commerce platform Meesho on Saturday said it recorded about 6.5 crore unique visitors on its portal on Day 1 of the annual festive season 'Meesho Mega Blockbuster Sale'.
Meesho Founder and CEO Vidit Aatrey said the company's app downloads reached around 1.5 crore ahead of the sale and the number of purchase orders has doubled on the first day of the sale on Friday as compared to that of the previous season.
"By just 2 PM yesterday, we had already surpassed our previous best of highest orders placed on Day 1 previous year, and by the end of the day, that number had more than doubled. Around 6.5 crore unique customers visited the mobile app on Day 1," Aatrey said on a social media platform.
According to a report by research firm Statista, the number of online shoppers was estimated to be about 25 crore across India in 2023 and it is likely to increase to 42.5 crore in 2027.
Meesho claimed that the orders on Day 1 doubled compared to last year while it tripled compar

Meesho

According to a report by research firm Statista, the number of online shoppers was estimated to be about 250 mn across India in 2023 and it is likely to increase to 425 mn in 2027

Pluckk's sales are divided across several channels, with 10-20 per cent coming from direct sales, 40-50 per cent from quick commerce, 20-30 per cent from e-commerce, and 10-15 per cent through retail

Pluckk

The quick commerce vertical's GOV is already at 40 per cent of food delivery GOV, despite being launched six years later

swiggy

According to a report by Global Data, Indian startups raised around $7.5 billion in venture capital funding from January to August 2024 alone

Zepto

The PE major has invested over $8 billion in the country through more than 30 deals, making it a force to reckon with. It has said it would invest around $5 billion this year in India

Funding among Indian startups declined by a marginal 7 per cent in the first nine months of 2024 to $7.6 billion from $8.2 billion during the same period last year.

The investment will expedite expansion into the US market and other geographies, increase investment into foundational AI models and enable complementary med-tech company acquisitions

Prashant Warier, Co-founder and CEO of Qure.ai. JPG

Saluja discusses the Ingovern report, the uncertainties surrounding the open offer, and the company's future

Rashmi Saluja, chairperson, Religare

In an exclusive interview Patrick Lasfargues, international partnership executive director, Carrefour and Nilesh Ved, owner of Apparel Group spoke about French retail major's plans for the Indian mkt

Patrick Lasfargues, Carrefour’s executive director of International Partnership (left) and Nilesh Ved, Apparel Group’s Chairman

Patrick Lasfargues, Carrefour's executive director of International Partnership (left) and Nilesh Ved, Apparel Group's Chairman

The company's flagship event IBM Think in Mumbai he talks about opportunities, AI and GenAI adoption and regulatory impact

Hans Dekkers, general manager of IBM Asia-Pacific (APAC) | Photo: Kamlesh Pednekar

Shah discussed NBFCs' recent plans for affordable housing and initial public offerings

Manish Shah, managing director (MD) and CEO of Godrej Capital

He spoke on IMAX's place in the global cinema ecosystem and its India plans

Richard Gelfond, New York-based CEO of IMAX

He talks about the opportunities in India amid an ongoing protein health revolution

Antoine De Saint-Affrique, Chief Executive Officer, French food major Danone SA

Coffee, and more specifically, specialty coffee, is pretty much at a tipping point, Nair said

Vinay Nair, vice president, Costa Coffee, India, and emerging markets

Gangadharan emphasises India's strategic importance for SAP's growth and innovation

Sindhu Gangadharan, Managing Director, SAP Labs India and Head, Customer Innovation Services

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