IEX Net Profit Jumps over 33.6% to Rs 60.8 Cr in Q4

The Indian Energy Exchange (IEX) has posted a nearly 33.6 per cent surge in its consolidated net profit after tax at Rs 60.8 crore in the March 2021 quarter, mainly on account of higher revenues.

May 15, 2021. By Manu Tayal

The Indian Energy Exchange (IEX) has posted a nearly 33.6 per cent surge in its consolidated net profit after tax at Rs 60.8 crore in the March 2021 quarter, mainly on account of higher revenues.

It’s consolidated net profit after tax stood at Rs 45.6 crore in the corresponding quarter last year.

Further, the company’s total revenue rose by 26 per cent to Rs 100.3 crore during the quarter under review, against Rs 79.6 crore in the same period a year ago.

For FY21, IEX’s consolidated net profit after tax increased by 16.9 per cent to Rs 205.4 crore, as compared to Rs 175.7 crore during the previous fiscal.

It’s total revenue in FY21 grew by 19.8 per cent to Rs 356.2 crore, from Rs 297.4 crore in the FY20.

Digital transformation and new market segments i.e. RTM and GTAM, were the key growth drivers for the company in the fiscal year 2021, said IEX.

As of March 2021, the installed power generation capacity at 382 GW saw 3.3 per cent YoY growth. The renewable capacity saw about 9 per cent YoY growth with cumulative capacity at 94 GW in fiscal year 2021.

About the impact of pandemic, IEX said that, “the Group has also assessed the impact of this whole situation on its capital and financial resources, profitability, liquidity position, internal financial reporting controls etc. and is of the view that based on its present assessment, this situation does not materially impact these audited consolidated financial results.

However, it stated that, the actual impact of Covid-19 on these financial results may differ from that estimated due to unforeseen circumstances, and the Group will continue to closely monitor any material changes to future economic conditions.”

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