Indian Energy Exchange Posts 17% Rise In Net Profit To Rs 107.29 Crore
The record date for ascertaining the name of members/beneficial owners entitled to receive the interim dividend is Friday, Jan. 31, 2025.
(Photo Source: Envato)
Indian Energy Exchange on Thursday posted a nearly 17% 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 Dec. 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.
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 Rs 1 each for 2024-25.
The record date for ascertaining the name of members/beneficial owners entitled to receive the interim dividend is Friday, Jan. 31, 2025.
IEX, in a statement, said that during the quarter, IEX achieved an electricity traded volume of 30.5 billion units, marking a 15.9% year-on-year rise and traded 26.52 lakh Renewable Energy Certificates, recording a 31% 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% (year-on-year) in the day-ahead market, leading to softening prices.
For third quarter Fiscal 2025 (October-December 2024), prices in the day ahead market averaged Rs 3.71/unit, a decline of nearly 26% 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 the first nine months of Fiscal 2025 (April to December 2024) increased by 22.8% to Rs 312.1 crore from Rs 254.1 crore in the year-ago period.
On the gas market front, the Indian Gas Exchange traded a total volume of 162 lakh MMBtu for the third quarter of Fiscal 2025 compared to 84 lakh MMBtu in third quarter of Fiscal 2024, a growth of 93%.
The profit after tax for IGX for the third quarter of Fiscal 2025 was Rs 8.3 crore compared to Rs 7.4 crore in third quarter of Fiscal 2024, showing a rise of 13%.
For the nine months till December Fiscal 2025, IGX PAT rose 18% year-on-year to Rs 22 crore.
