Q1 Results: IEX Registers 26% Growth In Net Profits On YoY

Q1 Results: IEX Registers 26% Growth In Net Profits On YoY

Indian Energy Exchange (IEX) has published its financial results for Q1 of FY25. The latest filing by the energy exchange at BSE revealed that the company registered a 26 percent growth in its net profits on a Year-on-year (YoY) basis. However, its net profits on Quarter-on-Quarter (QoQ) basis plunged by 1.8 percent.

The company reported a net profit of Rs 9,342 lakh in Q1 of FY25 against the total net profit of Rs 7,413 lakh. On the other hand, the company registered a total net profit of Rs 9,510 lakh. 

The company also increased its revenues in the period. It reported a total revenue of Rs 15,434.59 lakh in Q1 of FY25 against the total revenues of Rs 14,947.46 lakh in Q4 of FY24 and Rs 12,727.56 lakh in Q1 of FY24. With these figures, the Indian power exchange company reported a surge of 3.2% in revenues on QoQ basis and a revenue growth of 21% on YoY basis. 

During the quarter, IEX recorded a total trading volume of 30.4 BUs, an increase from 25.1 BUs in Q1FY’24, marking a growth of 21.1% YoY. This total volume comprises electricity volume of 28.2 BUs and certificate traded volume of 2.2BUs.

The company said that on the power sector front, hot weather conditions led to an unprecedented surge in electricity demand during the first quarter of this financial year. Peak power demand reached 250 GW, surpassing the previous high of 243 GW recorded in September last year. 

The country’s energy consumption of 452 BUs in Q1FY’25 was 11.2% higher compared with the same quarter last fiscal. On the fuel side, during the quarter, India’s coal production increased by nearly 11% YoY to reach 247 million tonnes. Auction premium under Shakti B8 auction has been down at around 20% since the last 3 months. 

“Coal inventory in July 2024 stood at nearly 18 days. Proactive measures taken by the government and the regulators, including the sale of surplus un-requisitioned power on power exchanges, increased fuel supply and ensuring higher availability of generating units led to increased sell liquidity on the exchanges which kept prices under control. Consequently, despite increase in electricity consumption, the market clearing price in the Day Ahead Market during Q1FY’25 was Rs 5.26/unit, almost similar to the same quarter last year,” the firm said in a statement.