IEX Net Profit Surges 74.5% to Rs 77.39 Cr in Q2

The Indian Energy Exchange (IEX) has reported significant growth of 74.5 per cent in its consolidated net profit after tax at Rs 77.39 crore in the September 2021 quarter, mainly on account of higher revenues.

October 22, 2021. By Manu Tayal

The Indian Energy Exchange (IEX) has reported significant growth of 74.5 per cent in its consolidated net profit after tax at Rs 77.39 crore in the September 2021 quarter, mainly on account of higher revenues.

Its consolidated net profit after tax stood at Rs 44.34 crore in the corresponding quarter last year.

Further, the company’s total revenue rose by 55.4 per cent to Rs 122.30 crore during the quarter under review, against Rs 78.71 crore in the same period a year ago.

On the rise in power consumption, IEX said, “the second quarter of the fiscal year 2021-22 saw a significant growth in the industry and economic activities leading to an increase in the overall power consumption.”

Also, the manufacturing PMI increased to 53.7 in September’21 for the third month in a row. While, the services PMI expanded to 55.2 in September 2021 from 41.2 in June 2021, signifying notable progress in overall business sentiment in the country, it added.

Therefore, the increase in economic activity spurred the demand for electricity. The national electricity consumption at 366 BU during the second quarter of the fiscal, saw 9.7% YoY growth while the peak demand touched 200.5 GW on July 7, 2021, was the highest ever registered in the country.
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