Indian Energy Exchange Q3 results: Net profit up nearly 19% at Rs 92 cr

The firm's consolidated net profit was Rs 77.21 crore in the quarter ended December 31, 2022, according to a regulatory filing

The Indian Energy Exchange on Thursday posted a nearly 19 per cent rise in consolidated net profit at Rs 91.80 crore in the December quarter, compared to the year-ago period mainly on the back of higher revenues.

Its consolidated net profit was Rs 77.21 crore in the quarter ended December 31, 2022, according to a regulatory filing.

The total income rose to Rs 141.21 crore in the quarter, from Rs 117.34 crore in the same period a year ago.

Board of Directors in its meeting held on Thursday have declared an interim dividend of Rs one per share (on equity share of par value of Re 1 each) for FY 2023-24.

 

In December 2023, the Indian Energy Exchange (IEX) had posted 17.5 per cent growth in its overall trade volume to 9,136 million units (MU) in November 2023 as compared to the year-ago period.

The exchange had recorded total trade volume of 7,764 MU in November 2022, as per IEX data.

"IEX achieved 9,136 MU overall volume, including 7.55 lakh Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5 per cent increase on YoY (year-on-year) basis," an IEX statement said.

IEX achieved 8,371 MU total electricity volume in November 2023, registering an increase of 13 per cent on YoY basis.

Market clearing price in Day Ahead Market (DAM) during November 2023 was Rs 3.98 per unit, down 13 per cent year-on-year, due to various factors including lower demand owing to festive season, temperature drop and improved sell side liquidity on the exchange, it stated.