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

Bharat Petroleum Corp Ltd (BPCL), India's second largest fuel retailer, on Thursday said there is no decision to replace E20 petrol with E10, clarifying that the current debate is over whether older vehicles should have access to a lower-ethanol blend and how an additional grade of petrol could be supplied across India's vast fuel-distribution network.
In a media call post the company's annual shareholder meeting, BPCL Chairman and Managing Director Sanjay Khanna, however, said he saw no operational or logistical challenge in switching from E20 petrol to E10 if the government decides to change the ethanol-blending policy.
"I never said that E20 will be changed to E10," he said, adding that it was being debated in some circles whether older vehicles should have an option of lower-ethanol blend fuel.
"That doesn't mean E20 will be out and E10 will be in," he said.
His comments come amid a wider policy discussion over whether owners of older vehicles should have access to E10 petrol,

BPCL

"I never said that E20 will be changed to E10," BPCL chairman said, adding that it was being debated in some circles whether older vehicles should have an option of lower-ethanol blend fuel.

Singapore court upholds a $490 million arbitration award against Tata Power over a failed joint bid for a Russian coal asset and rejects the company's natural justice challenge

Tata power

Bloomberg

Hero MotoCorp on Thursday said ​it would buy additional shares ​of Ather Energy for up ‌to 17.58 billion rupees ($184.01 million), raising its stake in the electric scooter maker to 32.8%.

Hero MotoCorp is accelerating its transformation toward sustainable, future ready mobility solutions, with their emerging mobility business - Vida.

hero motocorp

Reuters

Dream11 on Thursday said it has moved away from pure-play fantasy sports to building a global sports engagement platform.
Dream11 was India's biggest fantasy game company before the government imposed a blanket ban on the category a year ago.
"Dream11 today completes its pivot away from pure-play fantasy sports to becoming a global sports engagement platform. It has discontinued all prizes to focus only on sports content, live streaming, stats, scores, commentary, community, experiences, and social contests," the company said in a statement.
The statement said Dream11 will be transitioning to an AI-first platform, building a highly personalised experience for users based only on their favourite sports, leagues, teams and players.
The platform will also be multi-sport, addressing a global gap and positioning itself as a single destination for sports fans worldwide, the statement said.

Dream11

Dream11 on Thursday said it has moved away from pure-play fantasy sports to building a global sports engagement platform.

Google expects the first phase of its 1 GW Visakhapatnam AI data centre to be operational by late 2028 and aims to complete all phases over the next five years

Alexander Smith, Principal, Global Infrastructure and Energy, Asia Pacific, Google

'Nothing's too far' becomes new brand promise as carmaker seeks sharper consumer identity following demerger; Tata.ev will continue for electric cars

TATA, PV

The company said IndiaFirst Life is likely to revisit its IPO plans after regulatory approval for BNP Paribas Cardif's stake acquisition and the new shareholder structure is in place

(From left) Rushabh Gandhi, MD & CEO, IndiaFirst Life Insurance and Arundhati Bhattacharya, President and CEO, Salesforce - South Asia at the IndiaFirst Life & Salesforce Press Conference | Photo: Kamlesh Pednekar

The/Nudge Foundation's investment platform will provide ₹2 crore to ₹16 crore in patient capital to seed-to-Series A ventures serving India's Next Billion across livelihoods and climate resilience

investment, funds, funding

Commerce and Industry Minister Piyush Goyal on Wednesday proposed an India-Japan startup pitching series, on the lines of the popular 'Shark Tank' format, to connect young startups from the two countries with investors and potential business partners.
Addressing a roundtable on startups, Goyal said such pitching sessions could be organised virtually, leveraging digital connectivity, to facilitate greater interaction between Indian and Japanese startups.
"India and Japan can develop a pitching series, something like the Shark Tank initiative, that can help young startups pitch," Goyal said.
He said Indian startups could pitch their ideas to Japanese investors, while Japanese startups could seek partners and business opportunities in India.
"In this world of global connectivity through Zoom calls and the internet, I think we can have more and more pitching sessions where Indian startups pitch for Japanese investments and Japanese startups pitch for partners in India," he said.
Goyal

Piyush Goyal, Piyush

"India and Japan can develop a pitching series, something like the Shark Tank initiative, that can help young startups pitch," Commerce and Industry Minister Piyush Goyal said.

Soaring AI-driven salaries and stock options are discouraging Indian chip-design talent from taking the risk of building deep-tech startups, TDK Ventures says

Ravi Jain, director of  TDK Ventures

The transaction is subject to regulatory approvals, including a CCI nod, and comes as the Bengaluru-based fintech prepares for a potential initial public offering

Fintech

Arundhati Bhattacharya believes the company has made sure to tackle customers' concerns

Arundhati Bhattacharya, president and chief executive officer (CEO), Salesforce South Asia

RMSI is a tech company delivering advanced solutions in geospatial intelligence, AI, and smart automation to help enterprises address complex challenges such as climate change and disaster management

(From left) Anup Jindal, CEO and joint MD, RMSI, and Roli Jindal, co-founder and CEO, RMSI Cropaltyics

Jindal Steel aims to raise production to 12-12.5 MT by FY28, focus on value-added steel and boost exports amid rising freight costs and tougher global markets

V R Sharma, the newly appointed managing director (MD) of Jindal Steel Ltd (JSL)

Fino Payments Bank on Monday said its board has approved the extension of tenure of Ketan Merchant as interim CEO for a period of three months effective from August 27, 2026.
The decision of Nomination & Remuneration Committee of the board is subject to approval of Reserve Bank of India (RBI), the bank said in a regulatory filing.
RBI had last extended tenure of Merchant for a further period of three months with effect from May 27, 2026.
Merchant was appointed interim CEO following the arrest of its managing director and CEO Rishi Gupta for violating laws related to the Goods and Services Tax in February.
Directorate General of GST Intelligence (DGGI) arrested Gupta for alleged use of shell companies and payment aggregators to funnel illicit funds generated by online money gaming.
Prior to appointment as interim CEO, Merchant was serving as Chief Financial Officer of the bank.

Fino Payments Bank

Fino Payments Bank on Monday said its board has approved the extension of tenure of Ketan Merchant as interim CEO for a period of three months effective from August 27, 2026.

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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