Indian Energy Exchange Achieves 27% Profit Boost in June Quarter

Indian Energy Exchange (IEX) reported a 27% rise in consolidated net profit to Rs 96.44 crore for the June quarter, primarily due to higher revenues. The company recorded a trading volume of 30.4 billion units, with substantial increases in both electricity and gas market trades.

Indian Energy Exchange (IEX) announced a significant 27% increase in consolidated net profit, reaching Rs 96.44 crore for the June quarter, driven by higher revenues.

The company, which previously reported a consolidated net profit of Rs 75.82 crore for the same quarter last year, has seen its total income rise to Rs 154.47 crore from Rs 127.36 crore in the year-ago period, according to a BSE filing.

During this quarter, the IEX recorded a total trading volume of 30.4 billion units, a 21.1% year-on-year growth from Q1FY24's 25.1 billion units. This volume includes 28.2 billion units of electricity and 2.2 billion units in certificate trades.

Despite increased electricity consumption, the market clearing price in the Day Ahead Market (DAM) remained steady at Rs 5.26/unit compared to the same period last year.

In the gas market, the Indian Gas Exchange (IGX) significantly boosted its trading volumes to 11.8 million MMBtu for the first quarter, marking a 176% increase over the same quarter last year, with net profit soaring 120% to Rs 7.6 crore from Rs 3.4 crore a year earlier.