Indian Energy Exchange Q4 2024 Results: Consolidated Revenue rose 15% while PAT increased by 9% on a YOY basis

Synopsis:

Indian Energy Exchange (IEX) Limited announced its quarterly results for March 2024 on 15th May after market hours. It reported a consolidated PAT of Rs. 96.68 cr for Q4 FY2024. Its consolidated total revenue for Q4 FY2024 increased by 15.20% on a YOY basis reaching Rs.149.28 cr.

Quarter result performance

The company’s consolidated total revenue for Q4 FY2024 increased by 15.20% on a YOY basis, reaching Rs. 149.28 cr from Rs. 129.58 cr in Q4 FY2023. The quarterly consolidated revenue was up by 5.71%. Indian Energy Exchange reported a consolidated PAT of Rs.69.68 cr for Q4 FY2024 from Rs.88.33 cr in Q4 FY2023, which is an increase of 9.45%. On a quarterly basis, the consolidated PAT was up by 5.32%. The company’s PAT margin stood at 64.76% against 68.17% in Q4 FY2023.

For the full financial year ending in March 2024, the consolidated PAT stood at Rs. 350.78 cr compared to Rs. 305.88 cr in FY 2023, up by 14.68%. For FY 2024, its consolidated total revenue stood at Rs. 550.84 cr compared to Rs. 474.10 cr in FY 2023, up by 16.19%.

Indian Energy Exchange announced a dividend of Rs. 1.5 per share having a Face Value of Rs. 1 for FY 2024.

ranked fourth in terms of market rank by value of 4.5% in the March quarter for FY2024. Its Prescriber Penetration also reached 83.4% increased to 83.4% in Q4 FY 2024 compared to 81.7% in Q4 FY 2023. The company’s exports witnessed a 230% and 29% growth on YOY and QoQ basis, respectively.

As per the official statement from the Indian Energy Exchange, “For the fiscal year 2024, IEX achieved 110.1 BU in FY’24, registering an increase of 13.7% on YoY basis. Electricity volumes at 101.7BU increased 12.2% YoY. Electricity volumes at IEX crossed crossed 100 Bus for the first time. Additionally, 75.39 lac RECs (equivalent to 7.54 BU) were traded during FY’24. REC traded volume in FY’24 increased 26.4% on YoY basis. The DAM prices on the exchange declined to Rs 5.24/unit in FY’24, lower by 12% YoY compared with Rs. 5.94/unit in FY’23. During Q4 FY'24, IEX achieved 30.1 BU volume across all segments, registering an increase of 15.5% on YoY basis. This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac Renewable Energy Certificates (RECs) (equivalent to 3.2 BU). REC traded volume in Q4FY’24 increased by ~98% on YoY basis. The DAM prices on the exchange lowered to Rs 4.89/unit in Q4 FY’24, a decline of 20% YoY compared with Rs.6.08/unit Q4 FY’23.”

About Indian Energy Exchange Limited

The Indian Energy Exchange (IEX) operates as the country's only electricity trading platform. It facilitates the buying and selling of electricity, renewable energy, and certificates like Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCerts) through its transparent and efficient online trading platform.