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

Realty firm ATS Homekraft has sold entire around 340 luxury homes in first phase of its new project on Dwarka Expressway, Gurugram for Rs 825 crore on strong demand from end-user customers.
ATS Homekraft, a flagship company of ATS group, has launched premium residential project 'Sanctuary 105' along the Dwarka Expressway in Sector 105 early this month.
The company received good response from the end-consumers and has been able to sell the entire 334 units launched in phase 1 of this housing project, which is spread over 13 acres. The company got expression of interests from more than 700 customers who wanted to purchase in this project.
The sale bookings value of these 334 units is Rs 825 crore.
Udaivir Anand, Managing Director of ATS Homekraft, said the company launched this new luxury housing project at an affordable rate to target end-users and first time homebuyers.
Post-COVID, he said, the Gurugram market has seen many new projects in a price bracket of more than Rs 5 crore p

rent, real estate

ATS Homekraft, a flagship company of ATS group, has launched premium residential project 'Sanctuary 105' along the Dwarka Expressway in Sector 105 early this month

Public sector Indian Overseas Bank has unveiled retail loan processing centres in multiple cities aimed at streamlining the loan approval processes and reduce turn around time, a top official said.
As many as eight Retail Loan Processing Centres were inaugurated in physical mode in Chennai while seven others were launched in virtual mode across cities, the bank's Managing Director and CEO Ajay Kumar Srivastava said.
"Our new Retail Loan Processing Centres are not just about convenience. It is about building a smarter, more resilient banking framework. By harnessing digital tools and advanced analytics, we are ensuring stronger risk management while significantly reducing loan processing times," he said.
The Retail Loan Processing Centre is designed to streamline the loan approval process, reduce turnaround time and provide faster and more efficient services to retail customers, he said in a statement on Sunday.
Indian Overseas Bank has set up the RLPCs in Bengaluru, Coimbatore, Del

The reconstituted six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to maintain the “status quo” for the 10th consecutive policy review, said all the 10 respondents polled by Business Standard ahead of the  pan

The city-headquartered bank unveiled its ATM kiosk at the Puratchi Thalaivar Dr MGR Central Railway Station, one of the popular landmarks of the city

Realty firm Macrotech Developers Ltd's net debt rose 14 per cent to Rs 4,920 crore during the second quarter of this fiscal year as it looks to invest more on land acquisition and construction.
Mumbai-based Macrotech Developers, which sells its projects under the Lodha brand, is one of the leading developers in the country.
According to its latest operational update, the company's net debt stood stood at Rs 4,920 crore as on September 30, 2024.
"Our net debt is Rs 49.2 billion, well below our ceiling of 0.5 times net debt/equity," the company said.
Macrotech Developers' net debt was Rs 4,320 crore as of June 30, 2024, and Rs 3,010 crore at the end of the 2023-24 fiscal year.
Earlier this month, Macrotech Developers reported a 21 per cent increase in sales bookings to a record Rs 4,290 crore during the July-September period on better housing demand.
The company had sold properties worth Rs 3,530 crore in the year-ago period.
"We achieved our best-ever quarterly pre-sales of Rs 42

Housing, China's housing

It has delivered around 100 million sq ft of real estate and is developing more than 110 million sq ft under its ongoing and planned portfolio

After taking to the skies nearly seven months ago, FLY91 is on a steady flight path and that too with a difference. The regional carrier does not have a call centre for passengers.
Focused on being a "digital native" company, the Goa-based carrier prepared a list of priorities before commencing operations and decided to do away with certain things that are traditionally done by the airlines.
"We consciously wanted to go down that path (of not having a call centre)...," FLY91's Chief Technology Officer Prasanna Subramaniam said.
There are huge cost savings with not having the call centre and it also gives the advantage as the savings are being used for building new digital applications somewhere else, he told PTI in a recent interview.
Currently, FLY91, which commenced flying on March 18, operates two ATR 72-600 aircraft. It has around 16 departures a day.
The airline has a fully automated bot that responds to customer queries. In case a customer wants to have a personal talk, then

Fly91

Currently, FLY91, which commenced flying on March 18, operates two ATR 72-600 aircraft

Realty firm Gaurs Group will invest about Rs 4,000 crore to develop a 17-acre commercial project in Noida as part of its strategy to build rental assets, a top company official said.
Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said the company will develop 5 million (50 lakh) sq ft of commercial space in the upcoming Grade-A project.
"We are planning to develop a large commercial project on Noida Expressway.  The total area will be about 5 million sq ft, of which 2.5 million sq ft will be retail, 2 million sq ft office and a hotel with more than 300 keys," Gaur said.
He said the company will develop the project on lease model to boost its annual rental income that currently stands at more than Rs 125 crore.
Asked about investment, Gaur said it will be about Rs 4,000 crore.
The company is targeting to start construction of this project before March 2024.
Gaur said the company will fund investments on existing as well as upcoming projects through internal accruals a

Ashiana Housing

Gaur said the company is restructuring its business operations, before approaching market regulator Sebi for launching an IPO

Drug firm Glenmark is recalling two products in the US due to manufacturing issues, according to the US Food and Drug Administration.
New Jersey-based Glenmark Pharmaceuticals Inc, USA, a unit of Mumbai-based Glenmark Pharmaceuticals, is recalling 45,504 bottles of Ryaltris (olopatadine hydrochloride and mometasone fluorate) Nasal Spray.
The company is recalling the affected lot due to "defective delivery system", the US Food and Drug Administration (USFDA) said in its latest enforcement report.
"The dip tube is clogged causing the spray not to work," it added.
Glenmark Pharmaceuticals Inc, USA, initiated the nationwide (US) Class II recall on September 24 this year.
As per the USFDA, a Class II recall is initiated in a situation in which use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.
The US health regulator said the drug firm is also ...

medicine

The US health regulator said the drug firm is also recalling a generic medication to treat certain fungal skin infections

State-owned Coal India Ltd's contribution to the government exchequer dropped marginally by 0.6 per cent to Rs 28,930.27 crore in the first half of the ongoing fiscal over the year-ago period.
Coal India Ltd (CIL), which accounts for over 80 per cent of the domestic coal output, paid Rs 29,122.13 crore to the government exchequer in April-September period of FY24, according to provisional figures of the coal ministry.
Total levies paid to the government in September also dropped by 11.1 per cent to Rs 4,335.24 crore from Rs 4,878.84 crore paid in the corresponding month of FY24.
Of the total Rs 28,930.27 crore paid to the government exchequer in April-September FY25, maximum amount of Rs 6,452.30 crore went to the Jharkhand government, followed by Rs 6,383.14 crore to the Odisha government, Rs 5,432.02 crore to Chhattisgarh, Rs 5,177.41 crore to Madhya Pradesh, and Rs 2,782.25 crore to Maharashtra, among others.
The coal-producing states earned the revenue from royalty, District ..

Coal

The PSU's coal output in April-September period of the current fiscal year increased 2.5 per cent to 341.5 MT, over 332.9 MT in the year-ago period

The program will provide mentorship, masterclasses, networking, and funding opportunities, along with credits worth $500,000 from over 30 technology partners

Bhavin Pandya, co-founder and co-CEO, Games24x7

Sonal Sinha, who joined Oyo in 2015, will be responsible for overseeing Oyo's international business operations, revenue, and spearheading strategic initiatives across the US

Oyo, Oyo townhouse

Following Zomato CEO Deepinder Goyal's remark on Delhi being a better option for startups, Bombay Shaving Company CEO Shantanu Deshpande has also seconded Goyal

Shantanu Deshpande, Founder & CEO, Bombay Shaving Company.

Shantanu Deshpande

Many of the dozens of Indian startups that once chose to be based abroad for better access to capital and smaller tax bills are now queuing to return home

AstraZeneca Pharma India Managing Director and Country President, Sanjeev Panchal, talks to Shine Jacob about the company's future plans in an interview

Sanjeev Panchal, Country president & managing director, AstraZeneca  Pharma India

Kurek discusses Oriflame's commitment to the direct-selling model, its plans to expand its women-led sales force, and how India remains a priority market

Edyta Kurek, senior vice president of Oriflame India and Indonesia

India is expected to have a fair share of the €22-25 billion in investments the firm has planned over a three-year period between 2023 and 2025

Catherin Macgregor, Group CEO and board member, ENGIE

The 88-year-old designer, author of books like The Design of Everyday Things, Emotional Design, Design for a Better World was in India as advisor to BITS Design School, Mumbai, for a three-city tour

Don Norman

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

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