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

SpiceJet has set a floor price of Rs 64.79 per share for the sale of securities to qualified institutional buyers through which the budget carrier aims to raise up to Rs 3,000 crore.
Last week, shareholders approved a proposal to raise up to Rs 3,000 crore.
According to the preliminary placement document, a copy of which has been submitted to the BSE, the floor price has been set at Rs 64.79 per share.
"Our company may offer a discount of not more than 5 per cent on the floor price in accordance with the approval of the shareholders by way of special resolution pursuant to postal ballot dated on September 13, 2024, and in terms of Regulation 176(1) of the SEBI ICDR Regulations," it said.
The shares will be issued only to eligible Qualified Institutional Buyers (QIBs).
The no-frills carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations.
Shares

Spicejet

SpiceJet has set a floor price of Rs 64.79 per share for the sale of securities to qualified institutional buyers through which the budget carrier aims to raise up to Rs 3,000 crore.

Tata Power, which currently has 5 GW renewable energy capacity in large projects, will add another 5 GW capacity in the next one to two years and expand that to more than 20 GW by 2030

Tata power, Tata Group, Renewable energy

Post refinancing, roads SPVs to be free of external debt

IRB Infrastructure Developers

Indian IT major Infosys on Tuesday said it has entered into a long-term collaboration with British community bank Metro Bank to digitise the bank's operations.
The collaboration will utilise Infosys Topaz, the firm's  AI-first offerings, to enhance Metro Bank's digital capabilities, improve automation, refine data, and embed further AI capabilities.
This will assist the bank in increasing efficiency and saving costs, a regulatory filing said.
"At the end of this transformation, we will be a very different business, but the true essence of Metro Bank will remain the same -- a high-quality service organisation putting customers centre-stage," Metro Bank CEO Daniel Frumkin said.
The bank expects to deliver 80 million pounds of annualised cost savings this year across multiple initiatives, as it progresses towards the target of reaching mid-to-high teen return on tangible equity by 2027, he added.
"Our shared goal is to continually enhance customer engagement, community focus, and the

Infosys

At the end, we will be a very different business, but true essence of Metro Bank will remain same- a high-quality service organisation putting customers centre-stage, Metro Bank CEO Frumkin said

Holding co prepays Rs 21,813 crore debt in FY 2024 to declassify itself as NBFC upper layer

tata sons tata house

Life Insurance Corporation (LIC) on Tuesday said it has pared its stake in DCM Shriram Industries by more than 2 per cent to 4.66 per cent over a period of about three years.
In a regulatory filing, LIC said there is a net decrease of 2.016 per cent in its holding in DCM Shriram during the period October 8, 2021, and September 13, 2024. The shares were sold at an average price of Rs 110.072.
"...the Life Insurance Corporation of India has decreased its shareholding in equity shares of DCM Shriram Industries Ltd from 58,06,760 to 40,52,635 i.e., 6.675 per cent to 4.659 per cent of the paid-up capital of the said company," LIC said.
DCM Shriram Industries is primarily engaged in production and sale of sugar, alcohol and industrial fibres.
Shares of DCM Shriram Industries settled 1.77 per cent lower at Rs 194 apiece on the BSE.

LIC. life insurance corporation

DCM Shriram Industries is primarily engaged in production and sale of sugar, alcohol and industrial fibres

The PC maker's production plant will be based in Puducherry, which will manufacture 50,000 enterprise AI servers and 2,400 high-end GPU units annually

lenovo

The diagnostics service provider will use the funds to open more labs and collection centres, along with an expansion of its home collection network

Startup funding

By transitioning qualified delivery partners into the role of sales executives, Project Next aims to enhance restaurant expansion across over 150 growing markets

swiggy

The programme- Project Next- is part of Swiggy's larger initiative Swiggy Skills, which was announced earlier this month with the Ministry of Skill Development and Entrepreneurship

The minister said that the company can be industry-led, similar to Invest India-a key body that pushes investments

Union Minister Piyush Goyal aunched the Bharat Startup Knowledge Access Registry (BHASKAR) | Photo: X / @PiyushGoyal

Commerce and Industry Minister Piyush Goyal on Monday said a decision has been taken to set up a not-for-profit company under section 8 of the Companies Act to include all initiatives and bodies of Startup India under one roof.
Goyal said the company can be industry-led, similar to Invest India, which can manage its affairs.
At present, Startup India is housed in Invest India, which is a national body to promote investments.
"We will support it as a catalyst so that policy-wise, it is on the right track. It will have an independent board and organisation structure and we would do a little oversight. The National Startup Advisory Council can also be a part of it," Goyal said.
The Startup India initiative was launched on January 16, 2016. Under this, several programmes have been rolled out to support entrepreneurs, build a robust startup ecosystem and transform India into a country of job creators instead of job seekers.
These programmes are managed by a dedicated Startup India Team

Piyush Goyal, Piyush

At present, Startup India is housed in Invest India, which is a national body to promote investments

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

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

Sushant Dash, CEO, Tata Starbucks

India's skilled workforce and rise of global capability centres helping demand for commercial real estate, says Karan Singh Sodi

Karan Singh Sodi, senior managing director of the Mumbai metropolitan region and Gujarat and head of alternatives, India, at global real estate investment manager JLL

Rowe talks about Syngenta's strong presence in India for a long time

Jeff Rowe, CEO, Syngenta

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

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

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