IEX net up 33 pc at Rs 41.89 Cr in April-June quarter

Indian Energy Exchange today posted a 33 per cent jump in net profit at Rs 41.89 crore in the quarter ended on June 30, 2018 compared to the year-ago period mainly on the back of higher revenues.

Indian Energy Exchange today posted a 33 percent jump in net profit at Rs 41.89 crore in the quarter ended on June 30, 2018 compared to the year-ago period mainly on the back of higher revenues.

The company's net profit was Rs 31.38 crore in the quarter ended on June 30, 2017, a BSE filing said.

Its total income rose to Rs 74.18 crore in the quarter from Rs 61.90 crore a year ago.

The company is a registered power exchange and the same constitutes a single operating segment.

Apart from approving the results, the board in its meeting recommended Sub-Division of 1 equity share of face value of Rs 10 each fully paid up into 1 equity shares of Rs 1 each fully paid up, resulting in issuance 10 equity shares of Rs 1 each fully paid up, thereby keeping the paid-up capital intact, subject to the approval of the members in the ensuing 12thAnnual General Meeting.

The board also approved an increase in the limit of the total shareholding of FPI/FII from 24 percent up to 49 percent (which is present sectorial cap under existing FDI Policy).

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