Home › Business ›IEX Reports 25 Percent PAT Growth to INR 108.3 Crore in Q2 FY25, Revenue Rises 26 Percent
IEX Reports 25 Percent PAT Growth to INR 108.3 Crore in Q2 FY25, Revenue Rises 26 Percent
Indian Energy Exchange (IEX) posted a 25.2 percent YoY rise in consolidated Profit After Tax (PAT) to INR 108.3 crore for Q2 FY25. Revenue grew 26.2 percent to INR 167.8 crore, driven by a 38 percent increase in total trading volumes to 36.7 BUs.
October 25, 2024. By EI News Network
Indian Energy Exchange (IEX), a platform for energy trading has reported a strong financial results for the second quarter of FY25, showcasing impressive year-on-year growth.
As per the firm, the total trading volumes surged by 38 percent to 36.7 billion units (BUs). The company's consolidated revenue rose to INR 167.8 crore, a 26.2 percent increase compared to the same period last year. Meanwhile, the consolidated profit after tax (PAT) grew by 25.2 percet, reaching INR 108.3 crore.
The increased trading volume included 30.4 BUs in electricity and 6.3 BUs in certificates. Despite a slower growth in national power demand due to an unexpectedly favorable monsoon, which helped to moderate electricity needs, IEX’s volumes saw a notable surge. India's total power demand for the quarter was flat at 435 BUs, experiencing only a marginal increase of 0.5 percent year-on-year, with peak demand reaching 227 GW.
The adequate fuel availability, including a well-maintained coal supply and increased hydro and wind generation, contributed to lower overall power prices in the market. The Day Ahead Market’s clearing price averaged INR 4.48 per unit for the quarter, representing a 23.8 percent decline year-on-year, while the Real-Time Market saw a similar drop, with an average clearing price of INR 4.18 per unit, down 24.5 percent year-on-year.
In addition to strong growth in electricity volumes, IEX’s subsidiary, the International Carbon Exchange (ICX), achieved a significant milestone by being accredited as India’s first International Renewable Energy Certificate (I-REC) issuer. This accreditation enhances IEX’s green credentials and its commitment to facilitating renewable energy trading. I-REC certificates offer internationally recognised, tradable proof of energy generated from renewable sources, making them an essential tool for companies aiming to meet global environmental standards.
The Indian Gas Exchange (IGX), another significant part of IEX’s diversified energy offerings, reported a total traded volume of 118 lakh MMBtu in Q2 FY25. However, IGX saw a slight decline in profit, with PAT for the quarter at INR 6.1 crore, down from INR 7.8 crore in the corresponding quarter of the previous fiscal year.
As per the firm, the total trading volumes surged by 38 percent to 36.7 billion units (BUs). The company's consolidated revenue rose to INR 167.8 crore, a 26.2 percent increase compared to the same period last year. Meanwhile, the consolidated profit after tax (PAT) grew by 25.2 percet, reaching INR 108.3 crore.
The increased trading volume included 30.4 BUs in electricity and 6.3 BUs in certificates. Despite a slower growth in national power demand due to an unexpectedly favorable monsoon, which helped to moderate electricity needs, IEX’s volumes saw a notable surge. India's total power demand for the quarter was flat at 435 BUs, experiencing only a marginal increase of 0.5 percent year-on-year, with peak demand reaching 227 GW.
The adequate fuel availability, including a well-maintained coal supply and increased hydro and wind generation, contributed to lower overall power prices in the market. The Day Ahead Market’s clearing price averaged INR 4.48 per unit for the quarter, representing a 23.8 percent decline year-on-year, while the Real-Time Market saw a similar drop, with an average clearing price of INR 4.18 per unit, down 24.5 percent year-on-year.
In addition to strong growth in electricity volumes, IEX’s subsidiary, the International Carbon Exchange (ICX), achieved a significant milestone by being accredited as India’s first International Renewable Energy Certificate (I-REC) issuer. This accreditation enhances IEX’s green credentials and its commitment to facilitating renewable energy trading. I-REC certificates offer internationally recognised, tradable proof of energy generated from renewable sources, making them an essential tool for companies aiming to meet global environmental standards.
The Indian Gas Exchange (IGX), another significant part of IEX’s diversified energy offerings, reported a total traded volume of 118 lakh MMBtu in Q2 FY25. However, IGX saw a slight decline in profit, with PAT for the quarter at INR 6.1 crore, down from INR 7.8 crore in the corresponding quarter of the previous fiscal year.
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