Indian Energy Exchange Reports Strong Financial Performance for Q4 FY 2024

Indian Energy Exchange (IEX) announced its audited financial results for the fourth quarter and financial year ending March 31, 2024. The key highlights reflect significant growth across various metrics.

For the fiscal year 2023-2024, IEX reported total volumes of 110.1 BU, a 13.7 percent year-on-year increase. Revenue for the year stood at INR 550.8 Cr, up 16.2 percent YoY, while the Profit After Tax (PAT) reached INR 341.4 Cr, marking a 16.7 percent increase YoY. The consolidated PAT for the year was INR 350.8 Cr, reflecting a 14.7 percent increase YoY.

In the fourth quarter of FY 2023-2024, IEX achieved total volumes of 30.1 BU, a 15.5 percent increase YoY. Revenue for Q4 was INR 149.5 Cr, up 15.4 percent YoY, and PAT was INR 95.1 Cr, a 14.7 percent increase YoY. The consolidated PAT for Q4 was INR 96.7 Cr, showing a 9.5 percent increase YoY.

IEX's performance highlights for FY 2024 include achieving 110.1 BU, with electricity volumes at 101.7 BU, an increase of 12.2 percent YoY. This marks the first time IEX’s electricity volumes crossed 100 BU. Additionally, 75.39 lac Renewable Energy Certificates (RECs), equivalent to 7.54 BU, were traded, a 26.4 percent increase YoY. The Day-Ahead Market (DAM) prices on the exchange declined by 12 percent YoY to INR 5.24/unit.

During Q4 FY 2024, IEX achieved a volume of 30.1 BU across all segments, comprising 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac RECs, equivalent to 3.2 BU. The REC traded volume in Q4 increased by approximately 98 percent YoY. The DAM prices in Q4 fell by 20 percent YoY to INR 4.89/unit.

For FY 2024, the Board of Directors announced a final dividend of INR 1.50 per share, equivalent to 150 percent of the face value of equity shares.

In FY 2024, India’s electricity consumption reached 1,622 BUs, a 7.7 percent increase YoY. Coal production increased by 11.7 percent YoY to nearly 1 billion tonnes, with coal dispatch to the power sector rising by 8.8 percent YoY to 810 million tonnes.