Indian Energy Exchange Q4 PAT up 9.5%, revenue rises 15.2%

Total volumes during the quarter stood at 30.1 billion units (BU), registering a growth of 15.5% YoY. This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lakh renewable energy certificates (RECs), which is equivalent to 3.2 BU. REC traded volume in Q4 increased by nearly 98% YoY.

During the fiscal year 2024 (FY24), the company recorded a 14.6% YoY growth in its consolidated net profit at ₹350.8 crore. Revenue for the year rose 16.2% YoY at ₹550.8 crore. The company recorded a 13.7% YoY growth in their total volumes at 110.1 BU.

IEX said that the improved supply scenario resulted in increased sell liquidity at the firm, despite an increase in the country’s energy demand in FY24. During the fiscal, the sell liquidity on the exchange increased by 17% YoY.

“The regulatory and policy landscape for the power market witnessed positive developments during the fiscal year. Notable among these were the General Network Access (GNA) regulation, the Indian Electricity Grid Code (IEGC) regulations, and Transmission Charges Sharing regulations,” IEX stated.

On the gas market front, the Indian Gas Exchange (IGX), an associate company of IEX, traded total volumes of 41 Million MMBtu in FY’24, lower by 20% YoY. During the year, IGX reported an 18% YoY decline in its net profit at ₹23.1 crore. The board of directors of the firm announced a final dividend of ₹1.50 per share.

Shares of IEX have declined by nearly 12.17% since the beginning of the year. The stock has lost over 7.32% in the last one year.