IEX slips as Q2 PAT slides 8% YoY to Rs 71 cr

21 Oct 2022 , 12:23 PM

Profit before tax (PBT) fell by 8.4% to Rs 93.57 crore in Q2 FY23 over Q2 FY22. EBITDA de-grew 8.8% year on year to Rs 97.6 crore in the ended 30 September 2022. Total operating expenses were at Rs 16.2 crore in Q2 FY23, up 6% YoY. During the quarter, the Exchange traded 23.1 BU electricity volume as against 23.4 BU in Q1 FY23. The volume comprised 19.7 BU in the conventional power market, 1.5 BU in the Green Market segment and 19.14 lac certificates in the Renewable Energy Certificates (REC) Market which is equivalent to 1.9 BU. The volumes were impacted due to supply side constraints, led by high prices of e- auction coal, imported coal and gas. The average day ahead market prices increased to Rs 5.40 per unit during Q2 FY23, as against Rs 4.14 in Q2 FY22. Going forth, easing supply-side constraints and lower demand in the impending winter season, the company expects an increase in liquidity on the exchange platform leading to reduction in prices, which will provide opportunity to discoms to optimize their power procurement and commercial and industrial consumers to buy cheaper power. On the Gas market front, despite the increase in prices, during the quarter, the Indian Gas Exchange (IGX) traded 5.9 million MMBTU (metric million british thermal unit) in terms of volume and the profit after tax was recorded at Rs 2.42 crore, witnessing a growth of 111% on QoQ basis. IEX is Indias premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. Powered by Capital Market – Live News