IEX's Reported revenue of Rs 167.8 crore, marking a 26.2%

Mumbai:  Key highlights of the unaudited consolidated financial results for the second quarter ending September 30, 2024, as declared by the Company on 24 October 2024, are listed below:

• Total volumes in Q2FY’25 at 36.7 BUs, increased 38.2% from 26.5 BUs in Q2FY’24.
• Consolidated Revenue in Q2FY’25 at Rs 167.8 Cr, increased 26.2 % from Rs 133 Cr in Q2 FY’24.
• Standalone Profit After Tax in Q2 FY’25 at Rs 106.1 Cr, increased 28.0% from Rs 82.9 Cr in Q2FY’24.
• Consolidated Profit After Tax in Q2FY’25 at Rs 108.3 Cr, increased 25.2% from Rs 86.5 Cr in Q2FY’24.

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BUSINESS AND FINANCIAL PERFORMANCE HIGHLIGHTS

During the quarter, IEX recorded a total trading volume of 36.7 BUs, an increase from 26.5 BUs in Q2 FY’24, marking a growth of 38.2% YoY. This total volume comprises electricity volume of 30.4 BUs and certificate traded volume of 6.3 BUs.

Consolidated revenue for the company at Rs 167.8 Cr in Q2 FY’25, grew by 26.2% YoY, from Rs. 133 Cr in Q2 FY’24. Consolidated PAT at Rs 108.3Cr in Q2 FY’25, increased by 25.2% YoY, from Rs 86.5 Cr in Q2 FY’24. 

On the power sector front, electricity demand growth during the second quarter slowed on the back of a better-than-expected monsoon. Power demand at 435 BUs in Q2 FY’25 was largely flat at +0.5% YoY with a peak demand of 227 Gigawatt.

On the fuel side, this fiscal has not seen any shortage so far. Coal is available through the E-auction route at a very nominal premium of about 20% with respect to the administered price and coal inventory today is for about 14 days.

Favourable monsoons this year, high hydro and wind generation, and ample availability of fuel, led to higher liquidity on the exchange platform and a subsequent decline in power prices. The Market Clearing Price in the Day Ahead Market for the quarter averaged Rs. 4.48 per unit, down 23.8% year-on-year. Similarly, the Market Clearing Price in the Real Time Market was Rs. 4.18 per unit, reflecting a 24.5% year-on-year decline.

During the quarter, IEX’s, wholly owned subsidiary International Carbon Exchange (ICX), was accredited as India’s first International Renewable Energy Certificate (I-REC) Issuer. I-REC is a globally recognized digital certificate that serves as transferable proof of generation of 1 MWh of energy from renewable sources.

On the gas market front, the Indian Gas Exchange (IGX) traded total volume of 118 lakh MMBtu for Q2 FY25. The profit after tax for IGX for Q2 FY’25 was at Rs. 6.1 Cr, compared with Rs.7.8 Cr in Q2 FY’24.

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ABOUT IEX:

IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for quality management, Information security management and environment management since August 2016. The Exchange is a publicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008.

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