IEX's profit in March quarter up y-o-y by 14.7%

16 May 2024 , 03:44 PM

In Wednesday’s session, shares of Indian Energy Exchange (IEX) gained 4% on the NSE after the business reported a 14.7% year-on-year (YoY) increase in profit after tax (PAT) at ₹95.1 Crore for Q4FY24.

IEX recorded revenue of ₹149.5 Crore in the fourth quarter of FY24, while revenue for the full fiscal year amounted to ₹550.8 Crore, up 16.2% YoY.

The company’s overall volumes in Q4FY24 were reported at 30.1 billion units (BU), up 15.5% YoY, and FY24 ended with its highest-ever total volume of 110 BU, up 14% YoY.

The board of directors also declared a final dividend of ₹1.50 per equity share for fiscal year 2024, which is 150% of the face value.

The improved supply scenario resulted in higher sell liquidity at IEX, despite a rise in the country’s energy consumption in fiscal year 2024. In FY24, sell liquidity on the exchange climbed by 17% year-on-year, according to the company’s report with the exchanges.

IEX shares have gained over 8.5% over the last six months, including 3.25% in the last week.

IEX is India’s leading energy exchange, offering a countrywide automated trading platform for the physical delivery of electricity, renewable power, renewable energy certificates, and energy-saving certificates. The exchange platform allows for efficient price discovery, increasing the accessibility and transparency of India’s electricity market, as well as improving the speed and efficiency of deal execution.

At around 1.11 PM, Indian Energy Exchange was trading 1.89% higher at ₹148.30, against the previous close of ₹145.55 on NSE. The counter touched an intraday high and low of ₹151.30, and ₹147, respectively.

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