IEX net profit rises nearly 17% to Rs 107 crore in Q3

New Delhi: Indian Energy Exchange (IEX) on Thursday posted a nearly 17 percent rise in its consolidated net profit to Rs 107.29 crore, mainly driven by higher revenues. The company had reported a consolidated net profit of Rs 91.80 crore for the quarter ended December 31, 2023, a BSE filing showed.

Its total income rose to Rs 160.53 crore in the quarter from Rs 141.21 crore a year ago.

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The Board of Directors has also approved the payment of an interim dividend of Rs 1.50 per equity share, having a face value of Re 1 each for 2024-25.

The record date for ascertaining the name of members/beneficial owners entitled to receive the interim dividend is Friday, January 31, 2025.

IEX, in a statement, said that during the quarter, IEX achieved an electricity traded volume of 30.5 billion units (BU), marking a 15.9 percent year-on-year rise and traded 26.52 lakh Renewable Energy Certificates (RECs), recording a 31 percent growth.

According to the statement, adequate availability of fuel in this quarter led to higher liquidity on the exchange platform, as the sell quantum increased by 62 percent (year-on-year) in the day-ahead market, leading to softening prices.

For Q3 FY25 (October-December 2024), prices in the day ahead market averaged Rs 3.71/unit, a decline of nearly 26 percent year-on-year.

These prices presented an opportunity for discoms and commercial & industrial consumers to meet their demand at a competitive price and replace their costlier power by procuring through exchanges, it stated.

The company said its consolidated profit after tax (net profit) for 9M FY25 (April to December 2024) increased by 22.8 percent to Rs 312.1 crore from Rs 254.1 crore in the year-ago period.

On the gas market front, the Indian Gas Exchange (IGX) traded a total volume of 162 lakh MMBtu for Q3 FY25 compared to 84 lakh MMBtu in Q3 FY24, a growth of 93 percent.

The profit after tax for IGX for Q3 FY25 was Rs 8.3 crore compared to Rs 7.4 crore in Q3 FY24, a rise of 13 percent.

For the nine months till December FY25, IGX PAT rose 18 percent year-on-year to Rs 22 crore.

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