The market leader stock in the energy sector gained 4% to ₹140.95 per share on Monday after the company reported robust quarterly results.
At 11:20 am, On Monday, Indian Energy Exchange Ltd shares were trading at ₹135.70, up 3.54 percent to an intraday high of ₹140.95 apiece from the previous close on the National Stock Exchange. The company has a market capitalization of ₹ 12,493 crore.
On a standalone basis, Indian Energy Exchange reported an increase of net profit of 25 percent year on year from ₹71 crore in Q3FY23 to ₹89 crore in Q3FY24, Similarly, during the same time frame, revenue has increased by 15 percent from ₹100 crore to ₹115 crore.
In comparison to the previous quarter, operational revenue has risen by 5.5 percent from ₹109 crores in Q2FY24 to ₹115 crores in Q3FY24, Further net profit increased by 7.2 percent from ₹83 crores to ₹89 crores. The company reported in its exchange filing.
Total volumes of IEX in Q3FY’24 increased 16.8% from 24.2 billion units(BU) in Q3FY’23 to 28.3BU. As of the December quarter, IEX had 180.8 GW installed renewable capacity (including large hydro).
In recent quarters, the Company launched the IEX Power Price Index known as ‘PowerX’ as well as India’s first Electricity Price Index called EnergX through Web Based Bidding Platform.
The company’s shares have delivered a return of 15 percent in the last six months and 4 percent in a year.
Indian Energy Exchange Limited (IEX) is the first and largest power exchange in India. It has a dominant market share of over 98% of traded volume in electricity.
The company’s Board of Directors announced an interim dividend of ₹1 per share, equivalent to 100% on a face value of ₹1 each for the financial year 2023–24.
On the power sector front, October witnessed a high peak power demand of 221 GW. Electricity consumption during Q3 FY24 increased by 10% YoY, reaching approximately 380 BUs. On the fuel side, during the quarter, India’s coal production
increased by a robust 13.1% YoY to reach 256 million tonnes and coal dispatch to the power sector increased nearly 11.7% YoY to 203.5 million tonnes.
Indian Energy Exchange Ltd provides an automated platform and infrastructure for carrying out trading in electricity units for the physical delivery of electricity.
Written by Omkar Chitnis
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