IEX net profit up over 27% to Rs 96 crore in Q1

Indian Energy Exchange (IEX) on Wednesday posted over 27 percent rise in consolidated net profit to Rs 96.44 crore for June quarter, mainly on the back of higher revenues

New Delhi: Indian Energy Exchange (IEX) on Wednesday posted over 27 percent rise in consolidated net profit to Rs 96.44 crore for June quarter, mainly on the back of higher revenues.

The company had reported a consolidated net profit of Rs 75.82 crore in the quarter ended on June 30, a BSE filing showed.

Total income rose to Rs 154.47 crore during the quarter from Rs 127.36 crore in the same period a year ago.

According to a company statement, during the quarter, the IEX recorded a total trading volume of 30.4 BUs (billion units), an increase from 25.1 BUs in Q1FY24, marking a growth of 21.1 percent YoY (year-on-year).

This total volume comprises electricity volume of 28.2 BUs and certificate traded volume of 2.2 BUs.

Despite increase in electricity consumption, the market clearing price in the Day Ahead Market (DAM) during the first quarter of the current financial year was Rs 5.26/unit, almost similar to the same quarter last year.

On the gas market front, the Indian Gas Exchange (IGX) traded total volumes of 11.8 million MMBtu during the first quarter of the current fiscal, registering an increase of 176 percent over the same quarter last fiscal.

Profit after tax (net profit) for the IGX increased 120 percent to Rs 7.6 crore in the quarter under review from Rs 3.4 crore a year earlier.