IEX Q4 net profit grows 9.5% to Rs 97 crore

New Delhi: The Indian Energy Exchange (IEX) has posted a 9.5 percent rise in consolidated profit after tax at Rs 96.7 crore for the March 2024 quarter on account of higher income.

It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday.

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The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY'23.

During the period under review, its expenses stood at Rs 22.65 crore, as against Rs 19.52 crore a year ago.

In FY'24, the consolidated PAT rose 14.7 percent to Rs 350.78 crore, from Rs 305.88 crore in FY'23. Income for the full year was at Rs 550.84 crore, up from Rs 474.10 crore.

The Board of Directors of the company announced a final dividend of Rs 1.50 for FY24.

Sharing business updates, IEX said 110.1 billion units of electricity traded on its platform during the fiscal year 2023-24, registering a year-on-year (y-o-y) increase of 13.7 percent.

The DAM (day-ahead market) prices on the exchange declined to Rs 5.24/unit in FY'24, lower by 12 percent y-o-y compared with Rs 5.94/unit in FY'23.

During Q4 FY'24, IEX achieved 30.1 BU volume across all segments, registering an increase of 15.5 percent on y-o-y basis.

This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac Renewable Energy Certificates (RECs) (equivalent to 3.2 BU). REC traded volume in the fourth quarter of 2023-24 increased by 98 percent on y-o-y basis.

The DAM prices on the exchange lowered to Rs 4.89/unit in January-March 2024, a decline of 20 percent y-o-y compared with Rs 6.08/unit a year ago.

Noida-based IEX is India's leading energy exchange providing an automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

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