Home India IEX net profit surges 18% to Rs 42.62 crore in Q3
IEX net profit surges 18% to Rs 42.62 crore in Q3

IEX net profit surges 18% to Rs 42.62 crore in Q3

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The company’s total income rose to Rs 76.91 crore in third quarter compared to Rs 70.21 crore in the year-ago period.

Indian Energy Exchange posted 18 per cent jump in its net profit to Rs 42.62 crore for the quarter ended December 31, mainly on the back of higher revenues. The company’s net profit was Rs 36.20 crore in the same quarter a year ago, a company statement said.

According to the statement, the company’s total income rose to Rs 76.91 crore in third quarter compared to Rs 70.21 crore in the year-ago period.

It said the electricity segment registered a total volume of 13,696 MU (million units) electricity sale, up 20 per cent, on account of increase in procurement by distribution companies in the quarter.

The REC (renewable energy certificate) segment registered total volume of 11.97 lakh, down 78 per cent, driven by reduction in the available inventory.

The IEX is the first and largest power exchange in India and provides an automated trading platform for physical delivery of electricity. It offers participants the opportunity to trade in electricity contracts, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).

Source: PTI

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Anand Gupta Editor - EQ Int'l Media Network