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

Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler.
The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal.
Zepto co-founder Aadit Palicha took to LinkedIn to share the results.
"Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote.
Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future.
"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO.  This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that 

Zepto

The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal

State-owned insurer Life Insurance Corp of India (LIC) has pared its stake in iron-ore producer NMDC Ltd by 2 per cent, according to an exchange filing.
After the stake sale, LIC's holding in the state-run iron ore mining company NMDC has dropped to 5.6 per cent from 7.6 per cent earlier.
The insurer sold more than 5.91 crore shares or 2 per cent stake in NMDC through a series of market sales over a period spanning from September 2023 to December 2024, LIC said in a regulatory filing on Friday.
LIC's holding in NMDC's equity shares carrying voting rights decreased from 22,31,79,025 shares, representing 7.6 per cent of the total voting capital, to 16,40,59,791 shares, accounting for 5.6 per cent, it added.
Last month, LIC said it has sold more than 2.02 per cent stake in Tata Power for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent.
Shares of NMDC on Friday fell 2.91 per cent to close at Rs 233.70 apiece on the BSE.

The insurer sold more than 5.91 crore shares or 2 per cent stake in NMDC through a series of market sales over a period spanning from September 2023 to December 2024, LIC said in a regulatory filing

NMIIA operates an industrial area located in Mumbai, India's financial hub and the capital of the western state of Maharashtra.

Reliance

LIC Mutual Fund might consider an IPO once its asset under management (AUM) reaches the Rs 1 lakh crore mark, which it was targeting by FY'26, a top official said on Friday.
At present, LIC MF's AUM was around Rs 38,000 crore, a significant jump from Rs 16,526 crore in FY'23.
"We have grown by 67 per cent in FY'24 and our current growth run rate is 30 per cent," LIC MF Asset Management Ltd MD and CEO RK Jha told PTI.
He said the current equity contribution across all funds is 47 per cent, with debt accounting for the remaining 53.
Institutional and corporate investors have put their money mostly in debt funds, while retail participation is skewed towards equity, he added.
"We want retail or equity weightage to grow to 65-70 per cent when we hit Rs 1 lakh crore," he said, acknowledging the ambitious nature of the target with 15 months remaining.
Jha said that to achieve it, LIC MF has taken several initiatives. Among them is expanding its offices by tapping the vast network of Lif

Jha said that to achieve it, LIC MF has taken several initiatives. Among them is expanding its offices by tapping the vast network of Life Insurance Corporation (LIC), establishing distribution

The online entertainment ticketing space is expected to witness the emergence of new players and increased competition

swiggy

Telecom infrastructure company Indus Towers on Friday said it will acquire a 26 per cent stake in JSW Green Energy Eight for Rs 38.03 crore to procure renewable energy from a solar PV plant.
Indus Towers will receive 130 MW of renewable energy from a solar photovoltaic (PV) power plant, according to a regulatory filing.
"...the Company, on December 12, 2024, has entered into a Power Purchase Agreement with JSW Green Energy Eight Limited, a special purpose vehicle (SPV), for the procurement of renewable energy from Solar PV plant, under Captive mode.
"In connection with this, the Company will also enter into an agreement for a proposed investment of approximately Rs 38.03 crore, through the subscription to equity shares of the SPV..." it said.
JSW Green Energy Eight was incorporated in October 2024 to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, and sell electrical power or any other energy by using conventional and/or non-conventional ..

JSW energy

JSW Green Energy Eight was incorporated in October 2024 to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, and sell electrical power or any other energy by us

"Only because some litigant is to be given special treatment, bypass the rules, we can't place it directly before the division bench," the Supreme Court said

Supreme Court, SC

Space Kidz may become first Indian private firm to crash-land on the moon's surface

Moon Mission

Company plans to use the funding to expand its operations, hire talent, and for brand building

Startup funding

Spacetech startups are leveraging small satellites, cost-effective launch solutions, and the use of AI to introduce affordable technology that has a wide range of applications

Chandrayaan 3 replica at a startup and tech event in Bengaluru. (Photo/Peerzada Abrar)

Spacetech startups

Aurm, a Bengaluru-based firm brings technology equipped lockers to gated societies, offering 24/7 access, military-grade security, and even insurance coverage

Aurm’s technology equipped personal locker facility as seen in Adarsh Palm Retreat Bellandur Bengaluru.

Aurm

This partnership allows us to access IOC's 37,000 retail outlets and 13,000 LPG distributors, and they have a very strong brand presence, he says

Chetan Maini, Chairman, Sun Mobility

On quick commerce, he says a pilot for 15-minute delivery is starting in Bengaluru this month

Amazon India head Samir Kumar

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves

Dilip Oommen - CEO, AMNS India

RPG Group company CEAT has entered into an agreement with Michelin to acquire the Camso brand's off-highway construction equipment bias tyres and tracks business

Arnab

Agarwal expresses confidence of pick up in private capex and opportunities arising out of US president-elect Donald Trump's tariff war

Harsha Vardhan Agarwal, vice-president and managing director, Emami

We have unveiled our AI technology transformation strategy. And we have, in general, as a firm, been huge beneficiaries of using technology early, Rajeev Jain said

Rajeev Jain, MD, Bajaj Finance

The firm has already secured Rs 300 crore and aims to achieve the full target within the next 6 to 9 months, according to Ankur Bansal, Managing Director (MD) of BlackSoil

ANKUR BANSAL, co-founder and director of BlackSoil

India has a demographic advantage and substantial growth and a political system that is relatively calm and consistent, Stephen Dainton, President of Barclays Bank PLC said

Stephen Dainton, President of Barclays Bank PLC

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