The shares of the power trading platform provider gained up to 1.2 percent after the company recorded its highest-ever monthly volume in the Real-time Market (RTM).
With a market capitalization of Rs 18,458.67 crore, the shares of Indian Energy Exchange Ltd were trading at Rs 205.15 per share, decreasing around 0.36 percent as compared to the previous closing price of Rs 205.90 apiece.
Reason for rise:-
According to the company filing, Indian Energy Exchange Ltd announced its business update for August in which the company achieved a total volume of 12,040 MU, marking a 36 percent YoY increase, with the highest-ever RTM volume of 3,485 MU, up 27% YoY. DAM prices fell by 38% YoY to Rs 4.28/unit, while REC volumes surged 737% YoY to 2,116 MU. ICX was designated as the local I-REC(E) issuer in India.
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Financial performance:-
Analyzing the company’s financial condition, revenue magnified by 19 percent from Rs 104 crore in Q1FY24 to Rs 124 crore in Q1FY25, during the same time frame net profit zoomed by 25 percent from Rs 74 crore to Rs 93 crore.
Market leader:-
Indian Energy Exchange Limited (IEX) is the first and largest power exchange in India. It has a dominant market share of 80 percent of traded volume in electricity.
Industry overview:-
On the electricity sector front, October had a high peak power demand of 221GW. Electricity usage grew by 10% YoY in Q3 FY24, hitting over 380 BUs. On the fuel side, India’s coal output climbed by a strong 13.1% year on year to 256 million tonnes, while coal dispatch to the power industry increased by roughly 11.7% year on year to 203.5 million tonnes.
IEX has over 7600 registered participants including more than 60 distribution companies with over 700 electricity generators and 4800 open-access consumers.
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Company profile:-
Indian Energy Exchange Limited provides an automated trading platform for the physical delivery of power, renewables, and certificates. It offers many trading platforms, such as the power market, green market, and certifications.
Written by:- Abhishek Singh
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