FCC

IEX reports 13.7% spike in annual volume; 110.1 billion units in FY24

2024-05-17

The Indian Energy Exchange (IEX) disclosed a notable 13.7% uptick in total volumes, reaching 110.1 billion units (BU) for the fiscal year ending March 31, 2024. The company unveiled its audited standalone financial outcomes on May 15, 2024, spotlighting a robust revenue surge of 16.2% to Rs5.508 billion. Profit After Tax (PAT) for the year marked a commendable ascent of 16.7 %, reaching Rs3.414 billion, while consolidated PAT escalated by 14.7 % to Rs3.508 billion. In the fourth quarter alone, IEX observed a notable 15.5 % surge in total volumes, recording 30.1 BU. Quarterly revenue soared to Rs1.495 billion, a substantial increase of 15.4 %, with PAT experiencing a commendable growth of 14.7% to Rs951 million. The consolidated PAT for the quarter witnessed a respectable rise of 9.%, reaching Rs967 million. Furthermore, the company highlighted a decrease in Day-Ahead Market (DAM) prices, with an annual average of Rs5.24 per unit, depicting a 12% decline from the previous year. In the fourth quarter, DAM prices further decreased to Rs4.89 per unit, reflecting a notable 20% downturn compared to the corresponding period last year. Demonstrating confidence in its financial robustness, the Board of Directors announced a final dividend of Rs1.50 per share, equivalent to 150% of the face value of equity shares. (Source: ET Energy)