Indian Energy Exchange (IEX) recorded a 49.3% rise in consolidated net profit to Rs 62.82 crore on a 34.1% rise in net sales to Rs 91.03 crore in Q1 FY22 over Q1 FY21.
On a sequential basis, net profit increased by 2.11% while net sales declined nearly 3% in Q1 FY22 over Q4 FY21. The company's profit before tax rose by 2.53% quarter on quarter and 45.3% year on year to Rs 81.89 crore in Q1 FY22.Consolidated EBITDA increased 3.25% quarter on quarter and 41.3% year on year to Rs 86.7 crore in Q1 FY22.
On the operational front, electricity volume increased by 42.9% to 21,266 million units (MU) in Q1 FY22 as against 14,878 MU recorded in the same period last year. IEX said the growth in electricity volume was largely driven by competitive power prices on the exchange, growing electricity consumption, and vibrant performance of new market segments.
Completing a year on 1 June 2021, real time markets emerged as one of the fastest growing market segments on the exchange. With an exceptional performance throughout the quarter, the market traded the highest ever volume of 1726 MU in the month of June 2021. Overall, the market did a cumulative trade of 4635 MU with an average price of Rs 3.01 per unit in Q1 FY22. The market also recorded the highest ever single day trade volume of 80 MU on 22 June 2021. The quarter also saw green term-ahead market recording the highest ever monthly volume of 414 MU in June 2021. The market cumulatively traded 937 MU, already surpassing the total green volumes achieved in FY21 which stood at 785 MU.
IEX's subsidiary, Indian Gas Exchange (IGX) also saw uptake in volumes as well as participation. During the quarter, the volumes achieved by IGX far surpassed the total volumes of last year. IGX saw volume growth of 206% QoQ with 3,60,050 MMBTU traded in Q1 FY22.
IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).
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Shares of IEX were trading 0.68% higher at Rs 449 on BSE.
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