2025-01-23 18:13:00 :
New Delhi, Jan 23 (PTI) Indian Energy Exchange (IEX) on Thursday reported that its consolidated net profit rose nearly 17% to $1072.9 Crore, mainly driven by higher revenue.
The company reported consolidated net profit of $Revenue for the quarter ended December 31, 2023, was Rs 91.80 crore, the BSE filing showed.
Its total revenue rose to $1605.3 Crores during the quarter $141.21 crore a year ago.
The board of directors also approved the payment of an interim dividend $1.50 per share and the par value per share in 2024-25 is Re 1.
The record date to determine the names of shareholders/beneficial owners entitled to receive the interim dividend is Friday, January 31, 2025.
IEX said in a statement that this quarter, IEX achieved a power trading volume of 30.5 billion units (BU), a year-on-year increase of 15.9%, and traded 2.652 million renewable energy certificates (REC), a record high. An increase of 31%.
The statement said that sufficient fuel supply this quarter has led to increased liquidity on the exchange platform, and the sales volume in the day-to-day market has increased by 62% year-on-year, resulting in weaker prices.
Day-ahead market average price in the third quarter of fiscal year 2025 (October to December 2024) $3.71/unit, a year-on-year decrease of nearly 26%.
These prices provide an opportunity for distribution companies and commercial and industrial consumers to meet their needs at competitive prices and replace expensive electricity through exchange procurement, the report said.
The company said consolidated profit after tax (net profit) for FY9M (April-December 2024) rose 22.8% to $312.1 Crores Rs. $254.1 crore in the same period last year.
In the natural gas market, the Indian Gas Exchange (IGX) recorded a total trading volume of 162 million MMBtu in the third quarter of fiscal 2025, compared with a total trading volume of 8.4 million MMBtu in the third quarter of fiscal 2024, an increase of 93%.
IGX’s profit after tax for the third quarter of fiscal 2025 was $8.3 Crores compared to Rs. $74 crore in Q3 FY24, a growth of 13%.
In the first nine months to December of fiscal 2025, IGX PAT rose 18% year-on-year to $220 million rupees.
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