New Delhi, July 24, 2024 – Indian Energy Exchange Ltd (IEX), the premier energy trading platform in India, announced its unaudited financial results for the first quarter ending June 30, 2024. The company reported significant growth in both trading volume and financial metrics.
Q1 FY 2024-25 Performance
Volume Growth
During the quarter, IEX recorded a total trading volume of 30.4 BUs, a 21.1% increase from the same period last year. This volume includes 28.2 BUs of electricity and 2.2 BUs of traded certificates.
Revenue and Profit Growth
Consolidated revenue for the quarter grew by 21.3% YoY, reaching ₹154.5 crore compared to ₹127.4 crore in Q1 FY 2023-24. Consolidated Profit After Tax (PAT) rose by 27.2%, from ₹75.8 crore to ₹96.4 crore.
Market Dynamics
The surge in trading volumes and revenue was driven by hot weather conditions, leading to unprecedented electricity demand. Peak power demand reached 250 GW, surpassing the previous high of 243 GW recorded in September of the previous year. India's energy consumption in Q1 FY 2024-25 was 452 BUs, an 11.2% increase YoY.
Coal and Fuel Market
India's coal production increased by nearly 11% YoY to 247 million tonnes. Measures taken by the government and regulators, such as the sale of surplus unrequisitioned power on exchanges and increased fuel supply, contributed to higher liquidity and stable prices.
Gas Market Performance
The Indian Gas Exchange (IGX), a subsidiary of IEX, reported a total volume of 11.8 million MMBtu in Q1 FY 2024-25, a 176% increase YoY. IGX's profit after tax rose by 120%, from ₹3.4 crore in Q1 FY 2023-24 to ₹7.6 crore in Q1 FY 2024-25.
Indian Energy Exchange Ltd is India's premier energy exchange, offering a nationwide automated trading platform for the physical delivery of electricity, renewable power, renewable energy certificates, and energy-saving certificates. IEX promotes efficient price discovery, increased market accessibility, and enhanced trade execution speed and transparency. The Exchange is ISO certified for quality management, information security management, and environment management since August 2016. IEX is a publicly listed company on NSE and BSE since October 2017 and is regulated by the Central Electricity Regulatory Commission since June 27, 2008.
For more information, visit www.iexindia.com.
Contact Information
Ms. Aparna Garg
Head - Corporate Communications
Phone: +91-9958274392
Email: aparna.garg@iexindia.com
Leave a comment