Indian Energy Exchange achieves 11% yoy consolidated PAT growth in Q1FY23

26 Jul 2022 , 09:19 AM

Indian Energy  Exchange Limited (IEX) has announced its financial results for the quarter ended June 30, 2022.

The key highlights of the unaudited consolidated financial results as declared by the Company on July 25, 2022, are as below:

• IEX culminates the first quarter of FY23 with 23.35 BU volume across all market segments despite tough market conditions; achieved 10% yoy growth
• The Exchange achieved 11% yoy consolidated PAT growth in Q1FY23.
• IEX launched longer duration contracts (LDC) for term-ahead and green term-ahead contracts up to 3 months
• IEX launched its web-based trading platform

On a consolidated basis, revenue for the quarter increased by 10% YoY, from Rs102.9 crore in Q1FY’22 to Rs113.4 crore in Q1FY’23. The PAT grew by 11% YoY from Rs62.1 crore to Rs69.1 crore in the quarter.

During the quarter, electricity volumes on the Exchange grew by 10% YoY with 23.4 BU volumes traded versus 21.3 BU in Q1 FY’22. The volume comprised 20.64 BU in the conventional power market, 1.52 BU in the Green Market segment and 11.97 lac Certificates in the Renewable Energy Certificates (REC) Market equivalent to 1.2 BU. 

In June 2022, the installed power generation capacity reached 404 GW. The contribution of renewable energy (RE) grew to 161 GW, which is 40% of the total installed power capacity. The rapidly expanding green energy capacity is aligned to India’s commitment of 500 GW from renewables by 2030, which was made by Honorable Prime Minister at COP26 Summit held in November’21 at Glasgow.

At around 9:18 AM, Indian Energy Exchange was trading at Rs157.75 per share down by Rs0.8 or 0.5% from its previous closing of Rs158.55 per share on the BSE.