Godrej Aerospace, a business unit of Godrej & Boyce, has signed an agreement with British company GKN Aerospace, which is leading multi-technology tier 1 aerospace suppliers, to manufacture specialised helicopter fuel tanks.
Godrej will be setting up a cutting-edge manufacturing facility to produce these specialised fuel tanks in partnership with the British company.
With this Godrej is expanding its footprint in the non-metallic category of the aerospace industry.
"We are certain that this partnership will establish Godrej Aerospace as one of the key players in the market," the company said in a statement.
Voltas reports flat net at Rs 187 cr
Air conditioning and engineering services provider Voltas today reported a marginal decline in consolidated net profit for the June 30 quarter at Rs 187 crore against Rs 188 crore a year ago.
Its total income increased 9 per cent to Rs 2134 crore, the company said in a statement issued here. Despite stiff competition, market share improved to 23.5 per cent during the quarter.
However, the segment revenue declined to Rs 1191 crore from Rs 1,212 crore mainly due to uncertain weather, unseasonal rains and lower customer offtake.
Its electro-mechanical projects and services segment reported revenue of Rs 866 crore compared to Rs 661 crore. Its current order book stands at Rs 4623 crore while engineering products and services business revenue declined to Rs 77 crore from Rs 90 crore.
MMRDA to make 52 metro stations along 3 corridors green The Mumbai Metropolitan Region Development Authority will be developing all 52 elevated metro stations on the Dahisar-DN Nagar Metro-2A, DN Nagar to Mandale Metro-2B and Andheri (East) to Dahisar (East) metro-7 corridors under the Indian Green Building Council (IGBC) Green MRTS rating.
Under this, all the 52 stations on the three metro corridors will receive green certification on completion, which will be issued by the IGBC in association with CII.
The green initiatives include using 100 per cent LED base smart lighting, developing green car depot with use of solar energy, water harvesting and using green technology in rolling stock, among others.
Indostar Capital net plunges 38%
Mid-size NBFC Indostar Capital Finance today reported a steep 38 per cent decline in net income at Rs 31.5 crore for the June quarter from Rs 51 cr0re a year ago.
Its AUM rose 54 per cent to Rs 7,640.2 crore on strong disbursements, the company said, adding its income rose 31 per cent to Rs 141.6 crore.
While corporate loan book rose more than three times to Rs 1,534.9 crore, retail book jumped over two times to Rs 725.7 crore and vehicle financing run rate touched Rs 110 crore a month.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)