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

Apple's contribution to electronics exports has grown steadily over the years

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SpiceJet, which has statutory dues of more than Rs 601 crore, has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers.
Operating with a reduced fleet as well as facing financial and legal headwinds, the carrier is looking to raise funds.
Sources in the know on Wednesday said the qualified institutional placement has been oversubscribed, with participation from various investors, including family offices and institutional funds.
Some of the investors include family offices of Madhu Kela, Akash Bhanshali, Sanjay Dangi, Rohit Kothari, and Bandhan Bank, the sources said.
There was no official comment from the airline.
"Due to our financial constraints, our company has not been able to fulfil the statutory liabilities accruing on us on a month to month basis," the airline said in the preliminary placement document related to raising Rs 3,000 crore.
As per the document, the airline has not made provident fund payments to the tune of ov

Spicejet

Operating with a reduced fleet as well as facing financial and legal headwinds, the carrier is looking to raise funds

Plans to manufacture key parts rather than buying them

praveer sinha

State-owned Bharat Heavy Electricals Ltd (BHEL) on Wednesday said it has paid a final dividend of Rs 55 crore for 2023-24 to the government.
To this effect, a cheque towards the final dividend on the equity (63.17 per cent) held by the Government of India, was presented to H. D. Kumaraswamy, Union Minister of Heavy Industries and Steel by K Sadashiv Murthy, Chairman and Managing Director, BHEL, a company statement said.
The total dividend paid to the company's shareholders for 2023-24 amounted to over Rs 87 crore.

Dividend

State-owned Bharat Heavy Electricals Ltd (BHEL) on Wednesday said it has paid a final dividend of Rs 55 crore for 2023-24 to the government.

Yum! Brands, the US-based quick-service restaurant major, on Wednesday announced the appointment of Rohan Pewekar as the Managing Director (MD) for Pizza Hut in the Indian subcontinent.
Yum! Brands owns restaurant chains, including KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill.
Pewekar will be based in Gurugram and will lead Pizza Hut's operations across India, Nepal, Bangladesh, Sri Lanka, and the Maldives, according to a statement.
He will lead Pizza Hut for its next phase of expansion in the region, it added.
Pewekar, an alumnus of IIM Calcutta and Wharton School, has been with Pizza Hut for over four years. He played a pivotal role in driving the brand's rapid growth in the region, serving as Chief Strategy and Finance Officer, it added.
He has nearly 15 years of experience in B2C sectors and brings cross-functional expertise in finance, go-to-market strategies, channel expansion, and more.
Before joining Pizza Hut, Pewekar worked with Samsung Electronics India and ..

Rohan Pewekar

Yum! Brands owns restaurant chains, including KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore.
Nazara also announced increasing its stake in Absolute Sports to 91 per cent.
The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said.
"The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said.
Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining

Rs, Rupee, Cash, Credit, Economy, Saving, Payment, Indian Currency

The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said

Online food delivery aggregator Zomato on Wednesday said it has received a GST demand order along with interest and penalty amounting to Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal.
The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon.
"We believe that we have a strong case on merits and the Company will be filing an appeal against the order before the appropriate authority," Zomato said in a regulatory filing.
The order is for the period April 2021 to March 2022 passed by Assistant Commissioner of Revenue, Government of West Bengal confirming demand of GST of Rs 11,12,79,712 with interest of Rs 5,46,81,021 and penalty of Rs 1,11,27,971.
"The Company in its response to the show cause notice had clarified on the issue along with relevant documents and judicial precedents, which appears to not have been appreciated by the authorities while passing the order," Zomato ...

Zomato

The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon

Digital lending company Fibe sanctioned 46.6 million loans in H2FY24, showing an 8.4 per cent increase from H1FY24. The firm has raised a total of $228 million in funding since its inception in 2015

Ashish Goyal

Spacetech startups are harnessing artificial intelligence and 'deep technologies' like Blockchain and Internet of Things to transform industries and solve pressing societal challenges

Xovian Aerospace

In just 10 months since its launch in India, Schmooze said it has attracted over 1 million users and witnessed 900 million meme swipes

Vidya Madhavan, Founder, Schmooze

The diagnostics service provider will use the funds to open more labs and collection centres, along with an expansion of its home collection network

Startup funding

BYD plans to expand its sales touchpoints, aiming to double their number within the next 6 to 8 months, Rajeev Chauhan said

Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business, BYD India

There is a vast universe of fintechs out there and we would be reaching out to everyone to be a part of FACE. We do not have a threshold of scale or business model, said Sugandh Saxena, CEO, FACE

Sugandh Saxena, CEO, FACE

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

Sushant Dash, CEO, Tata Starbucks

India's skilled workforce and rise of global capability centres helping demand for commercial real estate, says Karan Singh Sodi

Karan Singh Sodi, senior managing director of the Mumbai metropolitan region and Gujarat and head of alternatives, India, at global real estate investment manager JLL

We are very quickly going to announce the timeline of our launches, which should start giving us the turnaround, MD and CEO Venkatram Mamillapalle

Venkatram Mamillapalle, CEO & Managing Director, Renault India

To tackle the growing load on its service outlets, M&M is increasing productivity, expanding bay capacity, and rolling out remote software updates

Nalinikanth Gollagunta

Sharma talks about Bajaj's mega electric vehicle play

Rakesh Sharma, executive director, Bajaj Auto

He says AI provides a huge opportunity for Indian languages to expand their reach

Vishnu Vardhan, founder, SML Generative AI

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