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

Air India Express has joined the IATA as a member, making it the fourth Indian carrier currently to be part of the global airlines' association.
The International Airport Transport Association (IATA) represents around 350 airlines that account for about 80 per cent of the global air traffic.
In a post on LinkedIn on Wednesday, IATA welcomed the membership of Air India Express, which was launched in 2005 and is the low-cost wholly-owned subsidiary of Air India.
"With a fleet of 115 aircraft-75 Boeing 737s and 40 Airbus A320s, the airline operates around 500 daily flights, connecting 38 domestic and 17 international airports across India, the Middle East, and Southeast Asia," IATA said.
Now, there are four Indian airlines that are IATA members -- Tata Group-owned Air India and Air India Express, IndiGo and SpiceJet.
Jet Airways, which stopped flying in April 2019 and is now undergoing a liquidation process, was an IATA member.

air india express

The International Airport Transport Association (IATA) represents around 350 airlines that account for about 80 per cent of the global air traffic

Acme Solar Holdings board on Wednesday approved a proposal to raise Rs 3,000 crore in multiple tranches.
At its meeting, the company's board also approved the re-appointment of Shashi Shekhar as Vice-Chairman and Whole-Time Director on the recommendation of its Nomination and Remuneration Committee, for a period of one year from the completion of his present term, i.e. with effect from April 9, 2026.
The board cleared the proposal of "raising of funds for an aggregate amount not exceeding Rs 3,000 crore in one or more tranches, through issuance of equity shares or any other equity-linked instruments or securities, through permissible modes, including but not limited to, qualified institutional placement (QIP), further public offer (FPO), private placement and/or combination thereof, as may be considered appropriate under applicable laws, subject to such regulatory/statutory approvals".
Both proposals are subject to approval of the members of the company at the ensuing annual general

The aspirations of a young India and increased income levels have encouraged companies to consider mergers and acquisitions (M&A) to keep up with demand. In a world where consumer preferences change dramatically, M&As provide companies the means to r

At its meeting, the company's board also approved the re-appointment of Shashi Shekhar as Vice-Chairman and Whole-Time Director on the recommendation of its Nomination and Remuneration Committee

Rolling stock maker Texmaco Rail & Engineering Ltd on Wednesday said it has formed a joint venture with Rail Vikas Nigam Ltd (RVNL) to strengthen India's railway modernisation and export competitiveness.
The venture will manufacture freight and passenger rolling stock  including wagons, locomotives, coaches, trainsets and metro coaches  and also take up EPC projects, depot operations and global tenders, a statement said.
Texmaco, part of the Adventz Group, will hold a 49 per cent stake, while Navratna PSU RVNL will remain the majority shareholder.
The transaction is expected to close by December 2025, subject to approvals.
The JV will explore automation, artificial intelligence and green technologies to deliver advanced and cost-effective solutions, the companies said.
Adventz Group chairman Saroj Kumar Poddar said the JV will expand India's capacity to deliver world-class rail infrastructure.
It will open doors for innovation, exports and digital technologies, making Indian ...

The much-anticipated provision of the deal value threshold (DVT) under the Competition Amendment Act 2023, notified on Monday, seeks to capture mergers and acquisitions (M&As) where the deal value exceeds Rs 2,000 crore or where the target company ha

Texmaco, part of the Adventz Group, will hold a 49 per cent stake, while Navratna PSU RVNL will remain the majority shareholder

J&K Bank on Wednesday said its board has approved the appointment of S Krishnan as non-executive chairman of the bank for a period up to March 26, 2028.
His appointment would be effective from the date of approval from the Reserve Bank of India (RBI), J&K Bank said in a regulatory filing.
The bank's board, in its meeting held on August 25, took the decision in this respect, it said.
Krishnan, currently an independent director on the board of Srinagar-headquartered bank, served as MD & CEO of state-owned Punjab & Sind Bank.
Subsequent to superannuation and pursuant to the approval of the appointment by the RBI, Krishnan took charge as MD & CEO of Tamilnad Mercantile Bank in September 2022.
Krishnan, a veteran banker with more than four decades of experience, is a postgraduate in Commerce and a qualified Cost Accountant.

jammu and kashmir bank, jammu bank, J&K bank

Krishnan, currently an independent director on the board of Srinagar-headquartered bank, served as MD & CEO of state-owned Punjab & Sind Bank

French hospitality group Accor Hotels appoints former Marriott executive Ranju Alex as CEO for South Asia with plans to expand operations and open 300 hotels in India by 2030

Ranju Alex

Jet Airways, which is undergoing liquidation, on Wednesday said it has executed an agreement to transfer the lease of its office space in Mumbai to an entity for a little over Rs 370 crore.
The proposed lease transfer, subject to approval from the Mumbai Metropolitan Region Development Authority (MMRDA), is being conducted under the provisions of the Insolvency and Bankruptcy Code (IBC) and Liquidation Regulations, according to a regulatory filing.
After flying for 25 years, the once storied Jet Airways shuttered operations in April 2019, following financial headwinds and subsequently, lenders referred the ailing airline for resolution under the IBC.
Under the insolvency resolution process, the winning bidder was unable to implement the resolution plan due to multiple issues, and after long-drawn legal proceedings, the Supreme Court, in November 2024, ordered the liquidation of the carrier.
"The company has executed the deed of assignment and other related documents in order to ...

Jet Airways

At the peak of its operations, Jet Airways had a little over 120 planes. When the operations came to a halt due to mounting debt woes and unpaid salaries, the airline had around 16 own planes

Experts say free AI access will build trust and shape long-term use

Sentient founder Himanshu Tyagi advocates for open-source AI to ensure India's technological sovereignty, as the country's AI talent pool grows rapidly and aims to challenge US and Chinese dominance

Himanshu Tyagi

WinZO officially launches in the US after a successful entry into Brazil, aiming to solidify its position in the global gaming market, valued at $65-70 billion with over 20 billion downloads annually

Winzo

WinZO's expansion into the US is a critical part of its strategy to become the global go-to consumer technology platform for all new-age content consumption, the company said

PropEquity has moved the Delhi High Court against CRE Matrix alleging data theft, seeking damages of Rs 8 crore as the court issues summons and sets next hearing for September 19

Delhi High Court

Cube Highways Trust has raised Rs 820 crore via non-convertible debentures issued across 3.5-year and 10-year tenors, with proceeds used for repayment of existing debt

cube highways

The Indian industry is at a stage where renewables have moved from a "nice to have" to "must have" position, says Tanti

Girish Tanti, Vice Chairman of Suzlon Energy

Gopinath talks about his strategies and priorities as Albertsons plans to hire about 1,000 employees in the next 18 months and what will fuel the next phase of GCC growth in the country

Sunil Gopinath, head of Albertsons Co's global capability centre (GCC) in India

During pandemic, private capex was almost zero and orders came largely from govt and multilateral projects. Today, private investment is returning strongly, Larsen & Toubro (L&T) CMD S N Subrahmanyan

L&T CMD S N Subrahmanyan

Mobiveil acquisition has given us strong entry into semiconductors space, says Piyush Jha

(L-R) Srini Shankar - President and Chief Executive Officer, GlobalLogic & Piyush Jha - GVP and MD - APAC, GlobalLogic

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

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

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

Pham Sanh Chau

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

Yogesh Mathur, Director-Sales & Marketing, HMSI

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

JSW joint managing director and chief executive officer Jayant Acharya

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