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

Press Trust of India

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

Business Standard

Founder Sridhar Vembu says a fourfold rise in server prices, higher AI expenses and an uncertain software market have forced Zoho to cut marketing spending and freeze annual pay hikes

Sridhar Vembu Zoho

RBL Bank shares recorded their steepest fall in nearly two years as higher-than-expected provisions overshadowed a 2.7-fold rise in Q2FY27 net profit and improved margins

The RBI has advised RBL Bank to amend its Articles of Association to reflect the new structure and seek regulatory approval for the same

Piramal is among global drugmakers increasingly seeking to reduce their reliance on China for pharmaceutical ingredients and manufacturing, amid rising geopolitical tensions

Piramal Pharma

Bloomberg

Realty firm Prestige Estates Projects Ltd on Tuesday reported a 20 per cent growth in its sales bookings to Rs 7,225 crore for the quarter ended September 2026 on strong housing demand, especially for big branded players.
In a regulatory filing, Bengaluru-based Prestige Estates informed that "the residential business recorded Pre-sales of Rs 72,250 million (up 20 per cent year-on-year) during Q2 FY27, with sales volume of 5.84 million square feet and 3,910 units sold."
During the first half of this fiscal, the company recorded pre-sales of Rs 1,3804.3 crore with sales volume of 11.88 million square feet and 7,247 units sold.
Irfan Razack, Chairman and Managing Director of Prestige Group, said, "Our residential business continues to see healthy demand. What is particularly encouraging is the response to our new launches, a couple of which were introduced towards the end of the quarter but nevertheless saw good sales traction."
Sustenance sales in the ongoing projects have also remai

real estate developers, Realty sector

During the first half of this fiscal, the company recorded pre-sales of ₹1,3804.3 crore with sales volume of 11.88 million square feet and 7,247 units sold

Country's largest carrier Indigo has signed a USD 328 million financing deal with Citi to buy eight narrow-body planes to be manufactured by Airbus.
This is the world's first aviation financing transaction insured by the Belgian export credit agency (ECA) Credendo, and the maiden ECA-backed aircraft financing structured through the GIFT IFSC, according to a statement.
The financing will help Indigo procure six A321s and two A320s, it said.
Global banking major Citi acted as sole mandated arranger, ECA coordinator and sole lender, with the financing backed by Credendo's credit insurance, it added.
The transaction was executed through Indigo's subsidiary, InterGlobe Aviation Financial Services IFSC and provides a "competitive and diversified source of long-term funding" for the carrier's fleet and network growth, it said.
"By combining Citi's cross-border aviation and ECA financing expertise with Credendo's credit insurance and IndiGo's GIFT IFSC platform, we have delivered a ...

IndiGo, IndiGo Airlines, Aviation News

This is the world's first aviation financing transaction insured by the Belgian export credit agency (ECA) Credendo, and the maiden ECA-backed aircraft financing structured through the GIFT IFSC

Sun Pharmaceutical Industries has said its board of directors has approved a proposal to raise funds of up to Rs 10,000 crore through the issuance of non-convertible debentures (NCDs).
The decision was taken at a meeting of the company's Board of Directors held on October 12, Sun Pharma said in a regulatory filing late on Monday evening.
The board approved the issuance of listed, rated, unsecured, redeemable NCDs on a private placement basis in one or more tranches and/or series for an aggregate amount not exceeding Rs 10,000 crore.
The company said that disclosures required under Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be made at an appropriate stage upon the issuance or allotment of the debentures.
Separately, the company announced that Gautam Doshi has resigned as a Non-Executive, Independent Director with immediate effect, citing personal reasons. Consequent upon his resignation, he has also ceased to hold positions on

Rupee

The decision was taken at a meeting of the company's Board of Directors held on October 12, Sun Pharma said in a regulatory filing

Accel-backed deep-tech startup Vimag Labs on Tuesday said it has started production at its first manufacturing facility at Jhajjar, in Haryana and plans to invest Rs 50 crore in a phased manner in scaling capacity.
Vimag, which manufactures and assembles motor and control systems and related propulsion systems, has already completed and exported its first production batch from the Jhajjar facility, the company said.
The site is the starting point of a phased manufacturing build-out in India, the company said, adding it currently plans around Rs 50 crore investment across this build-out.
"Our initial focus is on scaling mid-power motor and control systems for commercial programmes. As customer programmes mature, we plan to extend manufacturing into high-power systems of 570 kW and above and deepen partnerships across India for manufacturing, supply chain, tooling and industrialisation," said Manish Seth, Co-founder and CEO, Vimag Labs.
The overall scale of investment will continue t

manufacturing, ai, artificial intelligence

Vimag, which manufactures and assembles motor and control systems and related propulsion systems, has already completed and exported its first production batch from the Jhajjar facility

The Nandan Nilekani-backed growth-stage fund plans to invest ₹100-200 crore each in 12-15 AI and deeptech companies over the next two to three years, with a hard cap of ₹3,500 crore

(From left) Ashish Kumar, Debraj Banerjee, and Vivek Singla of Fundamentum Frontier Advisors

The edtech startup plans to expand from 40 to 120 institutions in two years and strengthen its AI-led learning platform, academic capabilities and skilling programmes

funding winter

Flipkart's travel arm expects non-air business to account for nearly half its revenue and says it could become self-sustaining without parent funding in a couple of years

Manjari Singhal, chief growth and business officer, Cleartrip

Backed by MEMG, the company is betting on AI, university partnerships and lower acquisition costs while avoiding the high-spend consumer model that hurt several edtech rivals

Ambrish Sinha, Founding CEO, UNext Learning

Hughes India CEO Shivaji Chatterjee says its satcom and non-satcom businesses are now equal in size, while faster regulatory approvals could unlock growth in satellite connectivity.

Shivaji

Mittersain will become a non-executive director as Nazara reshuffles its leadership, appoints a new CFO and approves a ₹730.78 crore share allotment to five individuals

Nitish Mittersain, CEO of Nazara Technologies

Aarthi Subramanian, executive director, president & chief operating officer, TCS talks about the company's AI journey and Tata Sons board tussle, among other issues

Aarthi Subramanian, Executive Director, President and Chief Operating Officer, TCS

Erik Ekkuden said that India will also lead the world in adopting Agentic AI and democratising it, but the challenge will lie in building the supply chain ecosystem

Erik Ekkuden, global chief technology officer, Ericsson

Ashwani Kumar, Managing Director and Chief Executive Officer (MD&CEO), UCO Bank

We are conducting a saturation drive for inoperative PMJDY accounts, meeting customers one-on-one to encourage them to operate their accounts, says Ashwani Kumar

Pham Sanh Chau

VinFast is committed to making EVs more accessible while contributing to economic growth through investment and local job creation.

Yogesh Mathur, Director-Sales & Marketing, HMSI

Two-wheeler demand likely to remain tepid until festival season, says HMSI

JSW joint managing director and chief executive officer Jayant Acharya

Q1 was disrupted by plant maintenance shutdowns at Dolvi and Bhushan Power and Steel (BPSL), which had an impact on our costs both for capex and operations

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