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 VSB announcement comes days after TotalEnergies' renewables strategy faced a series of setbacks in other regions

Totalenergies

Transfers to states from Centre are down 20 per cent compared to last year in the April-October FY25 period

telecom

StanChart's assets under management sourced from wealthy Chinese and Indians with global needs rose by about 40 per cent and 20 per cent

family settlement, business settlement, wealth distribution

Axis Securities on Wednesday settled a case, involving front-running trades by its former employee Vikrant Bhimrao Kadam and his friend, with markets regulator Sebi after paying Rs 14.62 lakh towards settlement amount.
It was alleged that as a stock broker, Axis Securities failed to exercise appropriate due diligence in the matter in its dealer and branch manager compliance policy.
The order came after Axis Securities filed an application with Securities and Exchange Board of India (Sebi) proposing to settle the violation of broker regulations "without admitting or denying the findings of fact and conclusions of law".
In its settlement order, Sebi said the broker remitted the settlement amount of Rs 14.62 lakh and consequently the instant "proceeding initiated against the applicant (Axis Securities) vide show cause notice dated June 4, 2024 is disposed of".
In a statement, Sebi clarified that the alleged frontrunner Mandar Ulhas Bhatkar has not been an employee of or associated wit

SEBI

It was alleged that as a stock broker, Axis Securities failed to exercise appropriate due diligence in the matter in its dealer and branch manager compliance policy

Hero Electric said it was willing to resolve the dispute with the ministry, which had demanded the disgorgement of Rs 133 crore paid to the company in sops, citing alleged violations of FAME II norm

Hero Electric

Airline informs regulator flight operations could face 'cascading' impact

Akasa Air, Akasa airlines

Venture capital firm Antler India is planning to invest USD 25 million, or about Rs 211 crore, in 50 startups in 2025, the company said on Wednesday.
The venture capital firm has invested in 30 startups in 2024 through its maiden USD 75 million fund.
"Antler plans to ramp up investments further in the next year and make 50 investments in 2025. We plan to invest USD 25 million in the 50 companies," Antler India Partner Rajiv Srivatsa told PTI.
The company's 2024 investments include a wholesale marketplace for fashion retail Bizup, aluminium-air fuel cell technology company Meine Electric, open mobility platform Namma Yatri, personal loan facilitator firm Keeper, which uses paid leaves as digital assets for salaried employees, AI-powered dashcam provider Cautio, etc.
"Our investment pace reflects both the quality of the founders we're meeting and our conviction that the next wave of global technology companies will emerge from India. We have invested in 30 companies this year, many o

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 venture capital firm has invested in 30 startups in 2024 through its maiden $75 million fund

At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million

(From left) Deep Agrawal, Head of Payment, PhonePe; Vishal Gupta, CEO, PhonePe Insurance; and Hemant Gala, CEO, PhonePe Lending

While announcing its September quarter results, management at Swiggy said its growth strategy for Instamart is based on hyperlocal expansion

startup funding investment

Science and Technology Minister Jitendra Singh on Tuesday invited Israeli startups to collaborate with Indian firms on the National Quantum Mission.
Singh made the offer to Israel's Industry and Economy Minister Nir Barkat who met him here.
The two leaders discussed collaboration in startups in the space, quantum technology, agriculture and health sectors.
Singh invited Israeli startups, known for their pioneering work in quantum computing, to partner with Indian institutions to co-develop critical quantum technologies.
"India and Israel can supplement each other in this domain  India with its large market, manpower, and opportunities, and Israel with its cutting-edge innovation," Singh said.
India's National Quantum Mission aims to harness quantum technologies to bolster sectors like communication, cryptography, and computing, he said.
Singh said Israeli startups and researchers could play a vital role in co-developing critical technologies, leveraging their experience for mutua

Jitendra Singh

Singh invited Israeli startups, known for their pioneering work in quantum computing, to partner with Indian institutions to co-develop critical quantum technologies

The company expects to reach the Rs 150-crore revenue mark by FY25, growing at 80-85 per cent year-on-year

He highlighted that private wealth investors are diversifying portfolios and prioritising stable, income-generating assets

Lee Elliott, partner and global head of occupier research at Knight Frank

Ervin Tu and Ashutosh Sharma of Prosus talk about their strategies for India and beyond

Chief Investment Officer Ervin Tu and Ashutosh Sharma, head of growth investments for India and Asia at Prosus

The steel industry is clearly in a down-cycle

Koushik Chatterjee

He talks about the issues with TAFE and the future roadmap in one of the company's first interviews since the 'tractor war' began

Luis Felli, senior vice president and general manager for Massey Ferguson (Global)

She says that the firm will hire its India head of customer success, ramp up the R&D centre to strengthen Udemy's core platform and build more AI features into its platform

Caoimhe Carlos, VP, global customer success, Udemy

Majety said that he is expecting to see a new wave of opportunities and selection opening for the quick commerce business

(From left) Rohit Kapoor, CEO of Swiggy’s Food Marketplace, and Sriharsha Majety, Managing Director and Group CEO, Swiggy

(From left) Rohit Kapoor, CEO of Swiggy's Food Marketplace, and Sriharsha Majety, Managing Director and Group CEO, Swiggy

Prashant Kumar discussed the bank's deposit strategy, loan growth trajectory, the status of stake sale, and other key developments

Prashant Kumar, MD & CEO of YES Bank

We will close this year with 130 operating hotels and add almost 20 operating hotels next year, said Nikhil Sharma, MD,  South Asia, Radisson Hotels group

Nikhil Sharma, Radisson

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