IEX Profit Surges 27% to Rs 96 Cr in Q1 | IEX Stock News
Jul 24, 2024 17:21
Indian Energy Exchange (IEX) reported a 27% rise in consolidated net profit to Rs 96.44 crore in Q1 FY24, driven by higher revenues and trading volumes. Read more.
New Delhi, Jul 24 (PTI) Indian Energy Exchange (IEX) on Wednesday posted over 27 per cent rise in consolidated net profit to Rs 96.44 crore for June quarter, mainly on the back of higher revenues.
The company had reported a consolidated net profit of Rs 75.82 crore in the quarter ended on June 30, a BSE filing showed.
Total income rose to Rs 154.47 crore during the quarter from Rs 127.36 crore in the same period a year ago.
According to a company statement, during the quarter, the IEX recorded a total trading volume of 30.4 BUs (billion units), an increase from 25.1 BUs in Q1FY24, marking a growth of 21.1 per cent YoY (year-on-year).
This total volume comprises electricity volume of 28.2 BUs and certificate traded volume of 2.2 BUs.
Despite increase in electricity consumption, the market clearing price in the Day Ahead Market (DAM) during the first quarter of the current financial year was Rs 5.26/unit, almost similar to the same quarter last year.
On the gas market front, the Indian Gas Exchange (IGX) traded total volumes of 11.8 million MMBtu during the first quarter of the current fiscal, registering an increase of 176 per cent over the same quarter last fiscal.
Profit after tax (net profit) for the IGX increased 120 per cent to Rs 7.6 crore in the quarter under review from Rs 3.4 crore a year earlier.
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