On January 24, 2025, IEX share price rose ~2%, reaching a day high of ₹172.60 at 09:20 AM after opening at ₹172.60. The gain in IEX share price follows the release of its financial results for the quarter ended December 31, 2024. IEX, or Indian Energy Exchange Limited, reported strong growth across key business metrics.
The company also a 31% increase in renewable energy certificates, which reached 26.52 lakh in Q3FY25, up from 20.24 lakh in the same quarter last year. Consolidated revenue grew by 13.7%, reaching ₹160.5 crore, while standalone profit after tax (PAT) rose by 15.5%, totalling ₹103.1 crore. Consolidated PAT for the quarter increased by 16.9%, reaching ₹107.3 crore. Over the first nine months of FY25, consolidated PAT surged by 22.8%, reaching ₹312.1 crore, compared to ₹254.1 crore during the same period in FY24.
During Q3FY25, IEX achieved a significant 15.9% YoY increase in electricity traded volume, reaching 30.5 BUs. The exchange also traded 26.52 lakh Renewable Energy Certificates (RECs), marking a 31% YoY increase. In addition, the Central Electricity Regulatory Commission (CERC) issued draft procedures for the trading of Carbon Credit Certificates for both obligated and non-obligated entities through power exchanges, which is expected to lead to the inclusion of Carbon Credit Certificate trading on IEX in the near future.
In Q3FY25, India’s electricity demand reached 393 BUs, marking a 3% increase year-on-year (YoY). For 9M FY25, the country’s total electricity demand stood at 1,279 BUs, reflecting a 5% growth compared to the same period in FY24. On the fuel front, coal availability has remained ample throughout the fiscal year. Coal is being sold at a nominal premium of 10% to 20% under the Shakti B8 auction, and current coal inventory levels are sufficient to cover approximately 19 days of demand.
The adequate availability of fuel in Q3FY25 contributed to higher liquidity on the exchange platform. The sell quantum in the day-ahead market increased by 62% YoY, resulting in a softening of prices. The average price in the Day Ahead Market for Q3FY25 was ₹3.71 per unit, a decrease of nearly 26% compared to the same period last year. This price reduction provided an opportunity for Distribution Companies (Discoms) and Commercial & Industrial consumers to meet their demand at more competitive rates, allowing them to replace higher-cost power with cheaper alternatives from the exchange.
In the gas market, the Indian Gas Exchange (IGX) recorded a substantial 93% YoY growth in traded volume, reaching 162 lakh MMBtu for Q3FY25, compared to 84 lakh MMBtu in Q3FY24. The profit after tax (PAT) for IGX in Q3FY25 was ₹8.3 crore, a 13% YoY increase from ₹7.4 crore in Q3FY24. For the nine months ending December FY25, IGX’s PAT was ₹22 crore, marking an 18% increase over the same period in the previous fiscal year.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 24, 2025, 9:28 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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