IEX Results- PAT Up 22% In FY25, Traded Electricity Volume Rises 19%

The Indian Energy Exchange (IEX) has announced its Q4 results and full year numbers for FY25. India’s largest  power exchange reported an 18.7% rise in electricity traded volumes, that powered a 19.3% rise in consolidated revenues and 22.3% rise in net profits as well.
Consolidated Revenue in FY’25 increased to Rs 657.4 Cr from Rs 550.8 Cr in FY’24, with profit after tax rising to Rs  429.2 Cr from Rs 350.8 Cr in FY’24

FY’25

• FY’25 Delivers highest traded electricity volume of 121 BUs, an18.7% YoY.

• 178 lakh RECs traded, a 136% jump YoY.

Q4FY’25 Highlights

• Traded electricity volime of  31.7 BU (Billion units) IN Q4FY’25, an18% YoY increase.
• 68 lakh RECs traded, highest ever number, growing 108% YoY
• Consolidated PAT For Q4FY’25 UP 21.1% YOY.

POWER SECTOR UPDATE

On the power sector front, according to government data, India’s electricity consumption in FY’25 reached 1,694 BUs, representing a 4.4% increase on a year-on-year basis. Given the increase in demand, the Ministry of Power took proactive measures throughout the year to enhance power supply like extending the directive for imported coal-based power plants to operate at full capacity, sale of surplus un-requisitioned power on power exchanges, ensuring the availability of gas-based plants and higher availability of generating units to meet peak demand.

On the fuel side, during FY’25, India’s coal production increased by 5%YoY to reach around 1,048 million tonnes and coal dispatch to the power sector increased by 5.9% YoY to 843 million tonnes. The coal premium under Shakti B8 action has come down to around 10%. Coal inventory on 31^st March 2025 stood at nearly 23 days, the highest since 2021.

Overall, the fuel situation has remained stable throughout FY’25. This improved supply scenario resulted in increased sell liquidity at IEX, despite an increase in the country’s energy demand in FY’25. The sell liquidity in the DAM segment increased by 36% on a year-on-year basis, thereby keeping power prices competitive on the exchange. For FY25, the market clearing price in the Day Ahead Market was at Rs. 4.47/unit, as compared to Rs 5.24/unit in FY’24, marking a decline of 14.7% YoY.

IGX

IEX’s gas trading platform, IGX also traded highest ever gas volumes of 60 million MMBtu in FY’25, a growth of 47% YoY. The profit after tax for IGX increased 34.3% from INR 23 crores in FY’24 to INR 31 crores in FY’25.

International Carbon Exchange Kicks Off Operations

During FY’25, its wholly owned subsidiary International Carbon Exchange (ICX) became accredited as India’s first International Renewable Energy Certificate (I-REC) issuer. Over the last 7 months, a total of 59.27 lakh I-RECs were issued by ICX. For FY’25 ICX made revenues of INR 3.41 crores compared with INR 32 lakh at the end of FY’24, a growth of 964% YoY.