New Delhi: Indian Energy Exchange (IEX) on Thursday posted over 25 percent on-year rise in consolidated net profit at Rs 108.32 crore for the quarter ended September 30, 2024 (Q2) mainly due to higher revenues.
The company had reported a consolidated net profit of Rs 86.46 crore in the quarter ended on September 30, 2023, a regulatory filing showed.
Total income rose to Rs 167.76 crore in the quarter under review, from Rs 132.97 crore in the same period a year ago.
According to a statement, during the quarter IEX recorded a total trading volume of 36.7 BUs (billion units), an increase from 26.5 BUs in Q2 FY’24, marking a growth of 38.2 percent YoY (year-on-year).
This total volume comprises electricity volume of 30.4 BUs and certificate traded volume of 6.3 BUs.
Favourable monsoon this year, high hydro and wind generation, and ample availability of fuel, led to higher liquidity on the exchange platform and a subsequent decline in power prices, it opined.
The Market Clearing Price in the Day Ahead Market for the quarter averaged Rs 4.48 per unit, down 23.8 percent year-on-year. Similarly, the Market Clearing Price in the Real Time Market was Rs 4.18 per unit, reflecting a 24.5 percent year-on-year decline.
During the quarter IEX's wholly-owned subsidiary International Carbon Exchange (ICX), was accredited as India's first International Renewable Energy Certificate (I-REC) Issuer.
I-REC is a globally recognized digital certificate that serves as transferable proof of generation of 1 MWh of energy from renewable sources.
On the gas market front, the Indian Gas Exchange (IGX) traded a total volume of 118 lakh MMBtu for Q2 FY'25.
The profit after tax for IGX for Q2 FY’25 was at Rs 6.1 crore, compared with Rs 7.8 crore in Q2 FY’24.
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