Technology

Mumbai, Jan 28 (IANS) JSW Energy reported a 27 per cent year-on-year drop in its consolidated net profit for the third quarter (Q3) of FY25.

The company's profit fell to Rs 168 crore in the October-December 2024 period, compared to Rs 231 crore in the same quarter last year.

The decline was due to lower revenue from thermal and hydropower plants, the company said in a filing to the Bombay Stock Exchange (BSE).

The company’s revenue also saw a slight dip to Rs 2,640 crore in Q3 FY25 from Rs 2,661 crore in the previous year.

JSW Energy explained that while additional renewable capacity and the Utkal Unit-1 contributed to sales, lower short-term revenue from its Ratnagiri and Vijayanagar plants offset the gains.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) decreased by 9 per cent to Rs 1,115 crore compared to Rs 1,229 crore in Q3 FY24.

The EBITDA margin dropped to 42.2 per cent from 46.2 per cent during the same period last year.

The board of JSW Energy has also approved a plan to raise long-term funds of up to Rs 3,000 crore.

This will be done through the issuance of rated and listed Non-Convertible Debentures (NCDs) on a private placement basis, the company stated in its regulatory filing.

In terms of operational performance, the company’s net power generation rose by 10 per cent year-on-year to 6.75 billion units (BU) in Q3 FY25.

Renewable energy generation increased by 18 per cent to 1.6 BU, while thermal generation grew by 8 per cent to 5.1 BU.

JSW Energy currently has an installed operational capacity of 8,117 MW, with an additional 7,570 MW under construction.

Shares of JSW Energy fell 5.72 per cent to close at Rs 504 on the BSE.

-- IANS

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New Delhi, Jan 28 (IANS) Guillain-Barre Syndrome (GBS) is not new and has been found in the country before, said Maharashtra Health Minister Prakash Abitkar, Tuesday, even as the reported cases spike to 110 in Pune.

Speaking to IANS, Abitkar said that low immunity is a significant risk factor for the disease, which potentially causes a paralysing nerve disorder.

"GB syndrome is not new. The disease has previously affected people in Maharashtra and the entire country," Abitkar told IANS.

In fact, the state launched the Mahatma Phule Jeevandayee Arogya Yojana in 2020 to counter such diseases, Abitkar said.

"GBS patients were given financial assistance up to Rs 2 lakh by the government," he told IANS.

"People with low immunity are at significant risk of GBS; children under 15 years of age and elderly people over 65 years are at more risk," said the Minister.

However, he noted that the reason for the increase in patients in Pune is different. He cited contaminated water causing infections as the major reason behind the spike in cases there.

"Of the 110 patients in Pune, 80 drank water from the same well. For this, we are continuously talking to the Pune Municipal Corporation."

The Minister also reported one death due to the disease.

Allaying apprehension regarding the disease, he said "There is nothing to fear, and treatment is available for the condition."

GBS occurs when antibodies, that fight bacterial or viral infections like Campylobacter jejuni or respiratory infections, cross-react with the peripheral nerves.

Manjari Tripathi, head of the neurology department, at AIIMS, told IANS that GBS is a sporadic disease. Sometimes it occurs in an endemic manner, but this time, it occurred in a cluster in Pune.

"In GB syndrome, there is a rapid ascending paralysis, starting from the lower limbs, going to the trunk, hands and respiratory muscles and bulbar muscles, which makes it difficult to swallow and breathe," Tripathi said.

Notably, the symptoms are rather abrupt in onset and very rapid in progression, so it does not mimic other peripheral neuropathies, the neurologist said.

She explained that the disease is caused in the aftermath of a bacterial or viral infection.

"The infection usually occurs 10 days to two weeks before and then subsides, and that infection triggers the autoimmune response, which causes deterioration of the nerves, causing GB syndrome. It is essential that food and water hygiene be properly maintained," the expert said.

Praveen Gupta, Principal Director and Chief of Neurology at a city-based Hospital said modern treatments are highly effective against the disease.

--IANS

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Bhubaneswar, Jan 28 (IANS) India’s semiconductor market is projected to grow to $103.4 billion by 2030, powering the over $400 billion electronics market, the Indian Electronics and Semiconductor Association (IESA) said on Tuesday.

The government’s targeted incentives for fabrication facilities (Fabs) and outsourced semiconductor assembly and testing (OSATs), increased R&D investments and collaborative industry initiatives are key to propelling India’s semiconductor sector forward, with significant investment commitments of over $21 billion by the IESA member companies in last one year, said Ashok Chandak, President of IESA.

At the two-day 'Utkarsh Odisha' – Make in Odisha Conclave 2025’ here, the industry body also launched “India Semiconductor Market Report 2030” in the presence of Union Minister of Railways and Electronics and IT Ashwini Vaishnaw.

The report highlighted key recommendations for achieving India's semiconductor ambitions, like continuing the ‘Semicon India’ programme beyond the initial outlay of $10 billion and DLI scheme with some modifications.

Other recommendations include setting a target of 25 per cent local value addition by 2025-26 and 40 per cent by 2030 in electronics manufacturing PLI benefits.

The report presents an in-depth analysis of India’s semiconductor market from 2023 to 2030, covering key industries such as handsets, IT, telecom, consumer electronics, automotive, aerospace, and defence.

It also provides actionable insights into critical components like processors, memory, connectivity, and power solutions, along with recommendations for increasing local sourcing.

Dr V Veerappan, Chairman of IESA, said that India’s semiconductor consumption market is valued at $52 billion in 2024-25 and is expected to grow at a robust CAGR of 13 per cent through 2030.

“Sectors like automotive and industrial electronics present significant value-addition opportunities. Mobile handsets, IT, and industrial applications, which together contribute nearly 70 per cent of the revenue, remain the primary growth drivers,” he informed.

The report also emphasised the need for innovative R&D to focus on list of high-priority products that cater to domestic and global markets.

--IANS

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Mumbai, Jan 28 (IANS) The share of the Unified Payments Interface (UPI) in India’s digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024, with a remarkable CAGR (cumulative average growth rate) of 74 per cent over the last five years, according the RBI’s payment system report.

In contrast, share of other payment systems like RTGS, NEFT, IMPS, credit cards, debit cards, etc. in digital payments volume declined from 66 per cent to 17 per cent during the same period, the report states.

UPI has been the most significant contributor to the growth of digital payments in India due to its usefulness and ease of use, the report points out.

At a macro level, the volume of UPI transactions increased from 375 crore in 2018 to 17,221 crore in 2024, whereas the total value of transactions surged from ₹5.86 lakh crore in 2018 to ₹246.83 lakh crore in 2024.

This amounts to five year CAGR of 89.3 per cent and 86.5 per cent in terms of volume and value, respectively, the report states.

Both P2P (person-to-person) and P2M (person-to-merchant) transactions leverage UPI's secure and real-time payment capabilities, making it easier for individuals and businesses to execute financial transactions without relying on traditional, time-consuming methods.

The UPI P2M transaction volume has surpassed the UPI P2P transaction volumes since 2023, however, in value terms, the UPI P2P transaction value is still higher than UPI P2M transaction values.

Over the past few years, digital payments in India have witnessed a phenomenal growth buoyed by the spectacular progress of UPI and the plethora of digital payment options available. In 2024 alone, India recorded 208.5 billion digital payment transactions.

UPI P2M grew at a CAGR of 99 per cent for transaction values below Rs 500 over 2019-24. In contrast, UPI P2P grew at a CAGR of 56 per cent during the same period.

For higher ticket-sized transactions — those exceeding Rs 2,000 — UPI P2M grew at a CAGR of 109 per cent during the same five-year period, while UPI P2P recorded a CAGR of 57 per cent.

The National Payments Corporation of India’s (NPCI) low-value transaction payment method, UPI Lite, recorded 2.04 million transactions daily, valued at Rs 20.02 crore in December 2024.

“When Paytm and PhonePe introduced UPI Lite on February 15, 2023, and May 2, 2023, respectively, a sustained increase in UPI Lite payment volumes and values was observed,” the RBI report observes.

“UPI has propelled India to the forefront in the provision of digital payment solutions as ‘public good’. This public good approach has the potential to be adopted by other economies, whatever stage of development they are at. UPI and its features bear lessons on democratisation of the payment system to the smallest value and penetration of digital payments to previously unreached segments,” the report added.

--IANS

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Gandhinagar, Jan 27 (IANS) More than 7,700 farmers in Gujarat have installed off-grid solar pumps under the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) scheme as of December 2024, as per the official data shared by the state government.

As part of the initiative, the state government has disbursed over ₹218 crore in subsidies to farmers. This subsidy covers approximately 70 per cent of the total cost of solar pump installation, significantly reducing the financial burden on farmers.

By adopting solar-powered irrigation systems, farmers are not only conserving electricity but also contributing to environmental sustainability.

The PM-KUSUM scheme, launched by the central government in 2019, aims to ensure the availability of water and electricity for irrigation while promoting the use of renewable solar energy. Farmers across the state are benefiting from pollution-free electricity to power their agricultural needs.

The Central government has sanctioned Gujarat to install 12,382 standalone off-grid solar pumps by March 2026 under the scheme.

As of October 31, 2024, the state's total installed renewable energy capacity (excluding hydropower) reached 29,814.36 MW, making it the second-largest in India after Rajasthan.

In terms of solar power, Gujarat's capacity stood at 14,182 MW as of June 2024. A notable aspect of Gujarat's solar initiative is its leadership in residential rooftop solar installations.

Despite covering only 6 per cent of India's land mass, the state accounts for nearly two-thirds of all residential rooftop solar power in the country.

Geographically, Gujarat benefits from abundant sunshine throughout the year and vast stretches of arid, unused land, particularly in regions like Kutch, ideal for large-scale solar installations.

The state capitalised on these natural advantages through massive infrastructure projects like the Charanka Solar Park, Asia's first and largest solar park with over 600 MW capacity, and the Dholera Solar Park, poised to reach a capacity of 5 GW, making it one of the largest in the world.

--IANS

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New Delhi, Jan 24 (IANS) The Centre on Friday cautioned citizens against fraudsters issuing fake and fraudulent summons for Goods and Services Tax (GST) violations.

The Central Board of Indirect Taxes and Customs (CBIC) said it has been recently observed that some individuals with fraudulent intent are creating and sending fake summons to the taxpayers who may or may not be under investigation by the Directorate General of GST Intelligence (DGGI).

“The fake summons resembles very closely with the original due to use of Department’s logo and Document Identification Number (DIN),” said the CBIC in a statement.

However, these DIN numbers are fake and are used by the fraudsters to make the document look and feel genuine.

“It is once again clarified that taxpayers can easily verify the genuineness of any communication (including Summons) issued by any officer of CBIC by using the ‘VERIFY CBIC-DIN’ window on the CBIC’s website,” said the Ministry of Finance.

In case of suspicion of bogus summons, taxpayers may immediately report to DGGI/CGST formations, it added.

On verifying the DIN, if any individual or taxpayer finds that the summon, letter, notice is fake, it may immediately be reported to the office concerned.

This will enable the competent DGGI/CGST formation to take law enforcement action against the fraudsters for using fake summons/letter/notice to dupe the public.

The government last year launched a special drive by Central and state GST formations to identify and weed out fake GST registrations that are being used for massive ITC (input tax credit) frauds.

This drive will be undertaken in a coordinated manner between the Central and state formations. Based on certain identified risk parameters, close to 59,000 potential fake firms were identified for verification and further enquiry.

--IANS

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New Delhi, Jan 24 (IANS) Trials on the Decarbonising Rice project, winner of the breakthrough scientific contribution award at the recently concluded World Economic Forum’s annual meeting in Davos, on Friday has been expanded in India, Laos and Indonesia.

Decarbonising Rice, led by Singaporean non-profit Temasek Life Sciences Laboratory, is a three-pronged integrative approach that aims to revolutionise the sustainability of rice -- one of the world’s most critical crops.

The initiative works by employing novel scientific methodologies and fostering collaboration between rice farmers, governments, and the private sector.

In phase-1 trials conducted in Singapore and India, the project led to a reduction in methane emissions by 20 per cent to 50 per cent and water use by around 50 per cent. It also led to a 5 per cent to 10 per cent improvement in yields. “Production has now expanded to 100-hectare trials in India, Laos and Indonesia”.

The breakthrough scientific contribution award is one of the five cross-sector collaborations honoured in the five Giving to Amplify Earth Action (GAEA) awards at the WEF in 2025. The innovative collaborations awarded last night in Davos exemplify the scale, pace, and ingenuity needed to drive meaningful, sustainable progress in addressing global environmental crises.

The GAEA Awards honour partnerships that are advancing critical climate and nature goals in five key categories: climate, nature, and resilience science; innovation ecosystem; business action; philanthropic-public-private partnership; and intergenerational leadership.

The five awarded collaborations will receive tailored support throughout 2025 to advance and scale impact and drive systems-wide change.

“The GAEA Awards recognise institutions and partnerships that are catalysing transformative change for climate and nature,” said Gim Huay Neo, Managing Director, World Economic Forum.

“By showcasing successful innovations and collaborations across industry partners, and between government, business, and civil society, we hope to inspire more to step forward and work together to shape a sustainable future for all,” Neo added.

The WEF Annual Meeting 2025 took place in Davos-Klosters from January 20 to 24. It convened global leaders under the theme, Collaboration for the Intelligent Age.

--IANS

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Mumbai, Jan 24 (IANS) InterGlobe Aviation, the parent company of IndiGo, on Friday reported a 18.6 per cent drop in its consolidated net profit for the third quarter (Q3) of the financial year 2024-25 (FY25).

The company posted a profit of Rs 2,448.8 crore in Q3, down from Rs 2,998.1 crore during the same period last year.

The decline in profits was largely due to a 20 per cent rise in its expenses, which reached Rs 20,466 crore, compared to Rs 17,064 crore in the same period last year.

As a result, the airline’s profit after tax (PAT) margin fell by 430 basis points to 11.1 per cent, down from 15.4 per cent in Q3FY24.

The budget airline's revenue from operations grew by 13.7 per cent, reaching Rs 22,110.7 crore, compared to Rs 19,452.1 crore in Q3 FY24.

The low-cost carrier’s revenue showed a significant 30 per cent jump on a sequential basis, as it had reported a lower revenue of Rs 16,970 crore in Q2 FY25. Despite the rise in revenue, the company had faced a net loss of Rs 987 crore in the July-September quarter.

IndiGo’s EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortisation, and Restructuring) increased by 10.7 per cent, reaching Rs 6,059 crore in Q3, up from Rs 5,475 crore in the year-ago period.

In Q2 FY25, the company reported a massive net loss of Rs 986 crore, compared to net profit of Rs 188 crore in the same period last year (Q2FY24).

Meanwhile, India’s domestic air passenger traffic rose by 6.12 per cent to 16.13 crore in 2024 from 15.2 crore in the previous year, according to the latest data compiled by the Directorate General of Civil Aviation (DGCA).

In December, the market share of IndiGo stood at 64.4 per cent while that of Air India touched 26.4 per cent.

--IANS

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Seoul, Jan 23 (IANS) LG Electronics, South Korea's leading home appliance maker, said on Thursday its fourth-quarter net loss deepened from a year earlier as a weak won pushed up foreign exchange translation losses.

The company posted a net loss of 713.7 billion won ($496.8 million) in the three months ended Dec. 31, compared with a net loss of 76.4 billion won in the fourth quarter of 2023, the company said in a regulatory filing.

"Increased translation losses of (dollar-denominated) financial debt and interest costs held by the company's overseas subsidiaries further cut into the bottom line," a company spokesperson said over the phone, reports Yonhap news agency.

The dollar rose to an average of 1,396.84 won in the fourth quarter from 1,320.84 won a year earlier, showed data from the Bank of Korea.

Operating profit plunged 56.7 per cent to 135.4 billion won in the fourth quarter from 312.5 billion won a year ago.

In the October-December period, higher marketing costs to boost home appliance sales amid lacklustre consumer spending and sharply increased logistics costs also weighed on the operating profit, the company said in a press release.

Sales inched up 0.1 per cent to 22.76 trillion won from 22.73 trillion won over the cited period.

To ride out the rapidly changing business environment, LG Electronics will continue to reorganise its home appliance-centred business portfolios and secure new growth drivers, the release said.

While strengthening the competitiveness of its mainstay home appliance business, the company will introduce high-end products equipped with artificial intelligence (AI) technologies, as well as advanced vehicle solutions for upcoming software-defined vehicles, it said.

For the whole of 2024, net income nearly halved to 591.4 billion won from 1.15 trillion won the previous year.

Operating profit declined 6.4 per cent on-year to 3.41 trillion won but sales were up 6.6 per cent at 87.72 trillion won.

—IANS

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San Jose (US), Jan 22 (IANS) Heralding a new AI era, Samsung on Wednesday unveiled its latest Galaxy S series smartphones, featuring more advanced on-device artificial intelligence (AI) with multimodal capabilities and personalised assistance functions.

Three models of the Galaxy S25 – the Galaxy S25, Galaxy S25 Plus and Galaxy S25 Ultra -- were showcased during the Unpacked event at the SAP Center here.

Roh Tae-moon, head of the mobile business division at Samsung Electronics, highlighted the new series' focus on integrating AI into the operating system to redefine how users interact with technology.

"Galaxy S25 series opens the door to an AI-integrated OS that fundamentally shifts how we use technology and how we live our lives," he said during the event.

All three models are powered by the Snapdragon 8 Elite Mobile Platform for Galaxy chipset, a customised version co-developed by Qualcomm Inc. and Samsung.

The company said it is the most powerful processor ever in a Galaxy S series, offering up to 40 per cent improved performance in display image scaling quality and power efficiency compared to its previous generation.

The Galaxy S25 series runs on One UI 7, Samsung's AI-driven user interface, which enhances multitasking by reducing the need for using multiple apps and enabling seamless interactions across applications.

The Galaxy AI agents, equipped with multimodal capabilities, allow the devices to interpret text, speech, images and videos, delivering a more natural user experience.

The Galaxy S25 also features enhanced natural language understanding, enabling users to locate specific photos, adjust display font sizes or perform other tasks with verbal commands.

Its communication services include, in addition, live translation and interpretation features that support 20 languages, along with new call transcription and summarisation functions.

The Galaxy S25 series incorporates new tools developed through Samsung's partnership with Google.

A dedicated side button activates Google's Gemini assistant, facilitating stable interactions between Samsung and Google apps.

Google's upgraded Circle to Search feature, first introduced in previous Galaxy models, can recognise phone numbers, emails and web addresses directly on the screen, enabling quick actions with a single tap.

The Galaxy S25 Ultra boasts a 50 million-pixel ultrawide camera, an upgrade from its predecessor's 12 million pixels. The ProVisual Engine, powered by AI, ensures ultra-detailed shots in various lighting conditions.

Galaxy AI's Audio Eraser technology helps the user remove unwanted noise in videos or control audio tones for voices, music or environmental sounds.

The new Galaxy S25 series will be officially launched on Feb. 7 worldwide, the company said.

Samsung Electronics has frozen the prices for the S25 series at the same level as its predecessor.

—IANS

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