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 company has also received ARAI clearance to use LFP batteries which will be used in its two wheelers - which Mehta says will help in reducing costs further

Ather Energy, Ather, EV scooter, electric scooter

State-run Telecommunications Consultants India (TCIL) was not consulted in the valuation process for the sale of 3,400 mobile towers to Indus Towers for Rs 1,134 crore, and a fresh deal is being worked out, a government source said.
Bharti Airtel and Bharti Hexacom board approved sale of their firms' telecom towers for Rs 2,147.6 crore and Rs 1,134 crore, respectively, to their group company Indus Towers in the first week of February.
The deal is being worked out afresh and TCIL has now been engaged in the process, the source said.
"TCIL was not kept in loop about sale of Bharti Hexacom mobile towers to Indus Towers. The deal was limited for transactions among group firms only. TCIL wants the sale to take place through an open bidding process where other players can also participate," the source said.
TCIL holds a 15 per cent stake in Bharti Hexacom -- a subsidiary of Bharti Airtel.
An Airtel spokesperson said the company remains convinced about the business logic and merits of th

Antenna, Network, Cell, Mobile Tower, Broadcast

Bharti Airtel and Bharti Hexacom board approved sale of their firms' telecom towers for Rs 2,147.6 crore and Rs 1,134 crore, respectively, to their group company Indus Towers in the first week of Feb

The corporate affairs ministry has ordered a probe into the affairs of crisis-hit Gensol Engineering and BluSmart Mobility for alleged violations of companies law, according to officials.
Gensol Engineering came under the regulatory scanner for alleged fund diversions and corporate governance lapses after Sebi, in April, passed an order barring the company's promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations.
BluSmart Mobility, which offers ride-hailing services, is promoted by Anmol Singh Jaggi.
The officials on Tuesday said the ministry ordered an investigation against the companies last week under Section 210 of the Companies Act, 2013.
Under Section 210, the ministry has powers to order a probe into the affairs of a company on various grounds, including in public interest.
Earlier, the ministry had said it would take necessary action in the matter after examining the Sebi order.
The order by the Securities and Exchange Board o

BluSmart funding news, BluSmart revival plans, climate funds investing in BluSmart, BluSmart electric mobility investment, BluSmart Eversource Capital deal, BluSmart distress funding, BluSmart EV ride hailing, clean energy investment India, BluSmart

Under Section 210, the ministry has powers to order a probe into the affairs of a company on various grounds, including in public interest

The proposal, which would give the shareholders equal stakes in both the listed entities, was approved with 99.9995% of votes, it said in an exchange filing

tata motors

The Noida-based company's losses for the entire FY25 was significantly lower at Rs 658.7 crore, down from Rs 1,417 crore in the previous financial year (FY24)

Paytm

According to reports, SMBC is in talks with the private lender to acquire a little over 20 per cent stake in the bank, which will trigger an open offer to acquire a majority stake in the bank

Yes Bank, yes bank New Logo

Union Bank of India has acknowledged lapses in procuring India@100 by K V Subramanian, prompting an internal probe, though it says no material financial impact has emerged

Union Bank

Healthtech firm Pristyn Care moves from asset-light model to hospital ownership, aiming for 50 hospitals, Rs 2,000 crore revenue and 20% Ebitda by FY28 IPO

Pristyn Care co-founder (L-R) Dr. Vaibhav Kapoor, Harsimarbar (Harsh) Singh, Dr. Garima Sawhney

With the latest round, Celcius aims to scale its tech-enabled cold chain logistics, enter new sectors, and enhance its presence in over 1,000 cities across India

Funding, Fund raising, Funding round

App-based electric taxi service provider Evera Cabs (Prakriti Mobility) on Monday said it has initiated the repossession of 500 electric cabs earlier operated by troubled BluSmart.
Already 220 vehicles have been acquired and the remaining 280 are set to be reclaimed in the coming days, Evera Cabs said in a statement.
The company is looking to enhance its position as a leading electric cab service provider, with a strong focus on airport mobility, it added.
Evera claimed that alongside the fleet integration, "a big chunk of BluSmart drivers" are queuing up to join it with 10 per cent of them being women. Around 150 drivers have started doing trips and recruitment efforts are ongoing to ensure service readiness as the fleet scales up.
"What we're executing is not just a scale-up, it is a realignment of the electric mobility narrative in India. As key players recalibrate, Evera is stepping forward with clear intent, absorbing proven EV assets and trusted drivers to ensure uninterrupte

Already 220 vehicles have been acquired and the remaining 280 are set to be reclaimed in the coming days, Evera Cabs said in a statement

Alt DRX, a tokenised digital real estate marketplace, has raised USD 2.7 million (around Rs 23 crore) to expand its business.
In a statement on Monday, the company said it has "closed its Pre-Series A funding round, raising Rs 23 crore (USD 2.7 million)".
The round witnessed participation from investors -- Qatar Development Bank, Times of India Brand Capital, Hindustan Media Ventures, Zee Group, WeFounder Circle Angel Fund, nX Capital -- besides angel investors such as Harsha Bhogle (Golden Voice of Cricket), Parthasarathy (Founder of Mindtree), and Richard Rekhy (former CEO of KPMG India).
Alt DRX aims to make residential real estate accessible to people by democratising this asset class by enabling people to buy and sell tokenised residential properties one square feet at a time, powered by algorithmic daily pricing, instant settlements, and blockchain-powered transparency.
Anand Narayanan, one of the founders of Alt DRX, said the fund will be utilised for purchase of residential

dollars

In a statement on Monday, the company said it has "closed its Pre-Series A funding round, raising Rs 23 crore ($2.7 million)"

Tariffs are part of the story, but it's really about trade, says Vince

Robin Vince, Chief Executive Officer (CEO), The Bank of New York Mellon Corporation (BNY)

Innovation is the lifeblood of our consumer goods business and that's how we will be able to achieve superiority, says Rohit Jawa

Rohit Jawa, managing director and chief executive officer, Hindustan Unilever

Julien talked about the hype and reality of artificial intelligence (AI), and the importance of India as well as other new emerging countries in the business

Teleperfomance chairman and chief executive officer Daniel Julien

Mondal talks about the Q4 results, outlook for FY26, and the new draft gold loan norms by the Reserve Bank of India

Pralay Mondal, managing director and chief executive officer of CSB Bank

The profitability would be sustained this year as we expect improvement in net interest income owing to change in liquidity and interest rate trajectory

Debadatta Chand, MD & CEO of Bank of Baroda (BoB)

Ajay Bijli emphasises the resilience and significance of the theatre industry in a digital-first world

Ajay Bijli, managing director, PVR INOX

Prashant Kumar discusses the Q4FY25 results and future strategy of the bank

Prashant Kumar, managing director (MD) and chief executive officer (CEO), Yes Bank

Zydus MD Sharvil Patel says the company is going beyond pharma into med-tech, diagnostics, and rare diseases, aiming for a global footprint while retaining India as the manufacturing hub

Zydus' Sharvil Patel

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