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

A low leverage ratio, such as in 2005-06 and 2014-15, has been followed by a spurt in Tata Sons' equity investment in various listed and unlisted ventures

tata sons tata house

Sikdar's appointment as MD and CEO was approved by the Insurance Regulatory and Development Authority of India

Prasun Sikdar

This pricing strategy positions Ola Electric as a formidable contender, making it a tough act to follow in the competitive landscape, said market observers

Financial services company Capital Group on Tuesday  divested a 1.7 per cent stake in IT firm Mastek for over Rs 148 crore through an open market transaction.
According to the bulk deal data available on the BSE, US-based Capital group through its arm SmallCap World Fund Inc offloaded 5.30 lakh shares, amounting to a 1.7 per cent stake in Mastek.
The shares were sold at an average price of Rs 2,801.68 apiece, taking the deal value to Rs 148.49 crore.
After the share sale, Capital group's holding in Mastek has come down to 6.24 per cent from 7.94 per cent.
Meanwhile, Aalidhra Textool Engineers bought 2 lakh shares of the company at an average price of Rs 2,800.81 per piece. This took the deal value to Rs 56.01 crore.
Details of the other buyers of Mastek's shares could not be ascertained.
Shares of Mastek rose 4.65 per cent to close at Rs 2,904.25 apiece on the BSE.

Divestment, privatisation, stake sale, disinvestment

US-based Capital group through its arm SmallCap World Fund Inc offloaded 5.30 lakh shares, amounting to a 1.7 per cent stake in Mastek

Tata AIA Life on Tuesday said it has netted an annualised premium of Rs 25 crore within three months of starting to distribute policies on the Tata Neu App.
Customers can get insurance policies in three clicks on the Tata Group's super app, according to a statement.
*****
Mastercard relocates 6,000 technologists and engineers to new Pune facility
* Payments major Mastercard on Tuesday relocated its team of 6,000 technologists and engineers supporting global operations into a newer facility spread over 5 lakh sq ft in Pune.
Pune is home to the largest workforce in the world for the company, which has tech hubs in Arlington, Dublin, New York, St Louis, Sydney, and Vancouver as well, as per a statement.
*****
Careedge assigns maiden ESG rating to ESAF
* Careedge ESG Ratings on Tuesday said it has assigned its maiden Environment, Social and Governance (ESG) rating to ESAF Small Finance Bank Limited (ESAF).
The SFB has been assigned a rating of CareEdge-ESG 2 with an ESG score of 6

Tata Neu

Customers can get insurance policies in three clicks on the Tata Group's super app

PVR Inox to hit play on profitability with big releases, bigger footfall

Gaurav Sharma

The business head of Bhavish Aggarwal-founded artificial intelligence startup Krutrim AI, Ravi Jain, has quit, according to sources.
Jain exited the company after putting in around three years, marking another high-profile exit from the Bengaluru-headquartered group this year.
When contacted, the company declined to comment on the matter.
Ola Krutrim is an AI startup, which has formed a series of strategic partnerships with global majors like Arm and Untether AI for the development of CPU and AI chips, platforms, and systems.
In January 2024, Krutrim raised USD 50 million at a valuation of USD 1 billion in a funding round led by Matrix Partners. This made Krutrim the first artificial intelligence unicorn from India.
Ola has seen several high-profile exits this year. Ola Cabs chief executive Hemant Bakshi left within three months of his appointment.
In May, the chief financial officer of Ola Cabs and Ola Financial Services (Ola Mobility) Karthik Gupta, stepped down.

Ravi Jain, Head of Strategy, Krutrim

Jain exited the company after putting in around three years, marking another high-profile exit from the Bengaluru-headquartered group this year

The firm operates in Bengaluru and plans to scale operations in India, targeting 10x growth in 2024

Niken Patel

Jewellery retailer GIVA on Monday said it has raised Rs 255 crore in a funding round, as it looks to expand its offline presence and bolster its lab-grown diamond offerings.
The extended Series B funding round was led by Premji Invest, Epiq Capital, and Edelweiss Discover Fund, with participation from GIVA's top management.
GIVA plans to use the funds for expansion across India and to enable strategic investor exits, the company said in a statement.
The round facilitated partial exits for early investors A91 Partners and India Quotient.
"Our focus remains steadfast on holding our position as the number one silver jewelry player in the market, while further fortifying our lab-grown diamond segment," GIVA Founder and CEO Ishendra Agarwal said.
The company also aims to broaden its gold offerings and consolidate its market presence, Agarwal added.
GIVA did not disclose the new valuation or the size of the stakes sold by existing investors.

The extended Series B funding round was led by Premji Invest, Epiq Capital, and Edelweiss Discover Fund, with participation from GIVA's top management

The plan can be purchased on the PhonePe app and provides coverage to families by insuring up to four family members, including the user, their spouse, and up to two children

PhonePe

Logistics automation startup Elixia has raised USD 1 million (about Rs 8.4 crore) in a funding round led by JITO Incubation and Innovation Foundation (JIIF).
Other investors include Motilal Oswal (Motilal Oswal Financial Services), Vimal Shah (Bidco Oil), Sparsh Jain (JG Group), Vinod Dugar (RDB Group) and Vimal Khinvasara (WMA Group), Ashok Shah (vtransgroup) and Amit Chandwar (K M Trans Logistics).
The company aims to use the new funding to expand in the Middle East, offering advanced logistics solutions for local businesses. This investment will also enhance their product offerings by integrating Generative AI and Machine Learning to boost multimodal visibility and operational efficiency, the company said in a statement.
***  Robotics startup Perceptyne raises USD 3 mn  *
Deeptech robotics startup Perceptyne has raised USD 3 million (about Rs 25 crore) in a funding round led by Endiya Partners and Yali Capital.
Whiteboard Capital and other angel investors also participated in t

logistics, warehouse, infra

Deeptech robotics startup Perceptyne also has raised $3 million (about Rs 25 crore) in a funding round led by Endiya Partners and Yali Capital

Deborah talks about the firm's high-yielding investment in Physics Wallah, the decision to not invest in beleaguered edtech firm Byju's, and investment strategy in India

Deborah Quazzo

Varun Berry and Cecile Beliot discuss capturing a larger share of the cheese market in India

Cecile Beliot, chief executive officer of Bel Group (left) and Varun Berry, executive vice-chairman and managing director of Britannia Industries

Unsoo Kim, president, CEO and MD, Wangdo Hur, executive director and CFO, and Tarun Garg, whole time director and COO of Hyundai Motor India outline their plans

(From left) Wangdo Hur, executive director and CFO, Unsoo Kim, president, CEO and MD, and Tarun Garg, whole time director and COO of HMIL - Kamlesh Pednekar

Momentum back; wish next CEO from within Cognizant: Ravi Kumar S

Ravi Kumar S, CEO, Cognizant

She talks about the company's Q2 performance and the way forward

Vibha Padalkar, managing director and chief executive officer of HDFC Life

He shares insights on India's new strategy to establish itself as a major force in the global semiconductor industry

Ajit Manocha, President & CEO, SEMI

He talks about the growth triggers, spend mindset and GenAI deal growth

C Vijayakumar, CEO and managing director, HCLTech

The company's worry continues to be the regulatory market cap in the Unified Payments Interface (UPI) payments ecosystem. Market cap is not the right solution, said Rahul Chari

Rahul Chari

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