IEX Reports 12 Percent Rise in Power Volumes, Q3 FY26 PAT at INR 119.1 Crore

Indian Energy Exchange (IEX) has reported strong growth in electricity trading volumes and profits for the quarter ended December 31, 2025 (Q3 FY26), even as overall power demand in the country remained flat due to prolonged monsoon conditions.

The exchange recorded electricity volumes of 34.1 billion units (BUs) in Q3 FY26, registering a year-on-year growth of 11.9 percent. Standalone profit after tax (PAT) rose 11.6 percent to INR 115.1 crore, compared with INR 103.1 crore in the same quarter last year.

On a consolidated basis, PAT increased 11 percent to INR 119.1 crore from INR 107.3 crore in Q3 FY25, while consolidated revenue grew 14 percent to INR 183.1 crore from INR 160.5 crore a year ago. For the nine months ended December 2025 (9M FY26), consolidated PAT climbed 16.4 percent to INR 363.1 crore, compared with INR 312.1 crore in the corresponding period last year.

The Board of Directors also approved an interim dividend of INR 1.50 per equity share, equivalent to 150 percent of the face value. IEX said that prolonged monsoon conditions during 2025 led to reduced electricity requirements across the country, resulting in flat national power demand of 392 BUs during Q3 FY26.

Fuel availability remained comfortable, with coal inventory at 25 days as of December 2025. Prices of imported coal averaged around USD 47 per tonne, marking a 10 percent decline compared with the same quarter last year.

Improved supply liquidity driven by capacity additions in solar, hydro and wind energy, along with sustained coal-based generation, led to a sharp decline in market prices. The market clearing price in the Day-Ahead Market (DAM) fell 13.2 percent year-on-year to INR 3.22 per unit, while the Real-Time Market (RTM) price declined 11.6 percent to INR 3.26 per unit.

In the gas segment, the Indian Gas Exchange (IGX) traded 17.5 million MMBtu during Q3 FY26, reflecting an 8 percent increase over the same quarter last year. IGX reported a PAT ofI INR 8.8 crore, up 6 percent from INR 8.3 crore in Q3 FY25.

For the nine-month period, IGX posted a PAT of INR 32.5 crore, a sharp 47.9 percent rise from INR 22 crore in 9M FY25. The company said that lower gas prices and supportive policy measures are expected to sustain trading volumes.

In the renewable certificate segment, the International Carbon Exchange (ICX) issued 51 lakh I-RECs during Q3 FY26, taking total issuances in the first nine months of FY26 to 133 lakh, compared with 59 lakh I-RECs issued in the full FY25. ICX reported revenue of INR 1.8 crore in Q3 FY26 and INR 5.5 crore in 9M FY26. I-RECs represent globally recognised certificates for 1 MWh of renewable energy generation.