Indian Energy Exchange slips ~3% owing to subdued trading volumes in Q2

21 Oct 2022 , 12:15 PM

Indian Energy Exchange’s counter slipped as much as 3% in Friday’s trading session as the company reported a downfall in its trading volumes for the quarter ended September 30, 2022.

The company informed that its trading volumes dipped over 11% to 23.1 billion units in Q2FY23, as compared to 26 billion units in the previous corresponding quarter, owing to supply-side constraints.

However, the company logged only a marginal downside of 2% in its trading volumes for H1FY23.

The company highlighted that supply-side constraints and the high price of e-auction coal, imported coal, and gas impacted the volumes during the quarter.

In Q2FY23, the average Day Ahead Market price jumped to Rs5.40 per unit, compared to Rs4.14 in Q2FY22. While the average Day Ahead Market price during the previous quarter was Rs7.76 per unit.

Going forward, as supply-side constraints ease and demand falls in the upcoming winter season, an increase in liquidity on the exchange platform, leading to price reductions, is likely, giving discoms the opportunity to optimise their power procurement and commercial and industrial consumers the opportunity to buy cheaper power, it stated.

Despite the increase in pricing, the Indian Gas Exchange (IGX) transacted 5.9 million MMBTU in terms of volume during the quarter, and the profit after tax was Rs2.42 crore, registering a 111% increase on a QoQ basis, it added.

At around 12.18 PM, IEX was trading at Rs136.25 down by 3.2% from its previous closing of Rs140.75 on the BSE. The scrip touched intraday high and low of Rs140.45 and Rs136.25 respectively.

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