IEX net profit remains almost flat at Rs 88 crore in March quarter

Indian Energy Exchange (IEX) on Thursday posted an almost flat consolidated net profit at Rs 88.33 crore in the March quarter.

The company had reported a consolidated net profit of Rs 88.40 crore in the quarter ended on March 31, 2022, according to a BSE filing.

Total income rose to Rs 129.58 crore in the January-March period from Rs 128.44 crore in the same period a year ago.

The consolidated net profit in the fiscal 2022-23 dipped to Rs 305.88 crore from Rs 308.63 crore in 2021-22.

Total income in the fiscal declined to Rs 474.10 crore from Rs 484.40 crore in 2021-22.

The company's board have recommended a final dividend of Re 1 per equity share having a face value of Re 1 each for the financial year ended March 31, 2023.

During the March quarter, IEX achieved an overall (trade) volume of 26.1 BUs (billion units) as against 27 BU a year ago due to supply-side constraints.

For the fiscal year 2022-23, IEX traded 96.8 BU as compared to 101.9 BU, mainly due to sell-side liquidity constraints.

The average Day Ahead Market price during the quarter was Rs 6.07 per unit, higher by 13 per cent on YoY (year on year) basis.