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 company recently received Rs 1,100 crore equity infusion from the promoters and another Rs 1,910 crore from two Mumbai-based investment firms

reliance infrastructures rinfra

The IBBI has amended the Insolvency Resolution Process for Corporate Persons norms to introduce significant changes to enhance creditor representation in the insolvency process.
The board notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations 2024 on September 24.
"The amendment regulations provide for the appointment of an interim representative who will act as a representative for a class of creditors during the period when the application for appointment of the authorised representative is under consideration of the adjudicating authority for approval," IBBI said in a release.
The interim representative will have the same rights and responsibilities as a duly appointed authorised representative, particularly in the meetings of the committee of creditors.
This move is aimed at facilitating the effective representation of creditors that are large in number, such as homebuyers, who often face delays

insolvency

The board notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations 2024 on September 24

State-owned Hindustan Copper Ltd (HCL) is implementing expansion projects to increase mine production capacity to 12.2 million tonnes per annum (MTPA), its CMD Ghanshyam Sharma said on Thursday.
The move will boost domestic production of copper and reduce dependence on imports.
The company achieved ore production of 3.78 million tonnes in FY'24 against 3.35 MT in FY'23, registering a rise of 13 per cent.
Speaking during the 57th Annual General Meeting, Sharma who is holding the addition charge of Chairman and Managing Director, said that the ongoing capacity expansion project i.e. development of underground mine below the existing open cast mine at Malanjkhand Copper Project (MCP) will augment the ore production capacity from 2.5 MTPA to 5 MTPA.
The ore production from open cast mine has now exhausted and underground mine is operating below existing open cast mine leaving some barrier pillar.
The project has achieved seamless transition from open cast to underground mine in 2023-2

China copper

The company achieved ore production of 3.78 million tonnes in FY'24 against 3.35 MT in FY'23, registering a rise of 13 per cent

In June, HDFC also sold a 50 billion rupee loan portfolio. Its credit-deposit ratio stood at 104% at the end of March, higher than the 85% to 88% rate in the previous three fiscal years

HDFC Bank, HDFC

Tata Electronics has already engaged two esteemed design firms from Taiwan to create a top-tier Fab that adheres to global standards of quality, safety, and sustainability

(From left) Frank Huang, Chairman of Powerchip Group and CEO of PSMC;  Prime Minister Narendra Modi; and N Chandrasekaran, Chairman of Tata Sons, during a meeting in New Delhi on Thursday	Photo: Twitter/X

Prime Minister Narendra Modi on Thursday met top officials of Tata Sons and Taiwan-based Powerchip Semiconductor Manufacturing Corporation, the two companies which are setting up semiconductor manufacturing projects at Dholera in Gujarat.
Leaders of the two companies briefed Prime Minister Modi and updated him about their ongoing projects.
"Had a great meeting with the leadership team of Tata Sons and PSMC. They shared updates on their Semiconductor manufacturing projects. PSMC expressed enthusiasm to further expand its footprint in India," Modi said on X.
Modi had in March this year laid foundation stones of three semiconductor fabrication plants, including the one being built by Tata Group and PSMC, as India seeks to join ranks of big chip-producing countries.

PM Modi

Leaders of the two companies briefed Prime Minister Modi and updated him about their ongoing projects

The first tranche payment of Rs 350 crore was required to be made by March 21, 2022

SBI, State Bank Of India

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

Supporting 80+ Fortune 500 companies, Whatfix registered top-decile performance with a 4.5x increase in annual recurring revenue since 2021 round, with new products contributing 15 per cent of revenue

Whatfix founders

However, anticipates 30-50% drop in revenue next fiscal due to regulatory headwinds

Zerodha’s chief executive officer Nithin Kamath

Zerodha's chief executive officer Nithin Kamath

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

Plan includes scaling up operations, bringing efficiency and setting up hybrid learning centres

Deepak Mehrotra, MD and CEO, Aakash Educational Services Limited (AESL)

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

Anuj Tyagi, MD & CEO, HDFC ERGO  General Insurance

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

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

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