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India's Green Hydrogen Plan: Biomass Conversion
India is embarking on a transformative journey from barren lands to abundant green hydrogen production through biomass conversion. This innovative approach underscores India's commitment to harnessing renewable resources for sustainable energy solutions and reducing carbon emissions.
The plan involves utilising biomass, including agricultural and forestry residues, to produce green hydrogen, a clean and versatile fuel with immense potential for decarbonizing various sectors. By tapping into biomass resources, India aims to unlock a new avenue for green hydrogen production while addressi..
India's Q1 Energy Shift: Renewables Overtake Coal
In a significant milestone, renewables accounted for 71.5% of India's energy production in the first quarter, surpassing coal for the first time in decades. This shift reflects the growing prominence of renewable energy sources in India's energy mix and underscores the country's commitment to sustainable development.
During the first quarter, India generated 13,669 megawatts (MW) of energy, with renewables contributing the majority share. This surge in renewable energy production highlights the strides made by India in transitioning towards cleaner and greener sources of power generatio..
India's Office Leasing Demand Set to Exceed 70 Million Sq Ft in 2024
India's office leasing demand is projected to surpass 70 million square feet in 2024, reflecting a significant uptick in commercial real estate activity. The country's commercial office market continues to exhibit resilience and growth despite challenges posed by the global economic landscape.
Several factors are driving the surge in office leasing demand, including the expansion plans of multinational corporations, the emergence of startups, and the increasing adoption of flexible workspace solutions. As businesses strive to adapt to evolving work models and capitalise on emerging oppo..
LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn
LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.
Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..
IEX reports 13.7% spike in annual volume; 110.1 billion units in FY24
The Indian Energy Exchange (IEX) disclosed a notable 13.7% uptick in total volumes, reaching 110.1 billion units (BU) for the fiscal year ending March 31, 2024. The company unveiled its audited standalone financial outcomes on May 15, 2024, spotlighting a robust revenue surge of 16.2% to Rs5.508 billion. Profit After Tax (PAT) for the year marked a commendable ascent of 16.7 %, reaching Rs3.414 billion, while consolidated PAT escalated by 14.7 % to Rs3.508 billion. In the fourth quarter alone, IEX observed a notable 15.5 % surge in total volumes, recording 30.1 BU. Quarterly revenue soared to ..
