IEX Reports 13.7 Percent Revenue Growth to INR 160.5 Crore in Q3 FY'25

The Indian Energy Exchange (IEX) has announced its unaudited financial results for the third quarter ending December 31, 2024, demonstrating robust growth across key performance indicators.

The exchange reported a 15.9 percent year-on-year (YoY) increase in electricity volumes, trading 30.5 billion units (BU) in Q3 FY'25, compared to 26.3 BU in Q3 FY'24. Additionally, the volume of Renewable Energy Certificates (RECs) traded saw a 31 percent YoY increase, with 26.52 lakh RECs traded during the quarter, up from 20.24 lakh in the same period last year.

IEX's consolidated revenue for Q3 FY'25 reached INR 160.5 crore, marking a 13.7 percent growth from INR 141.2 crore in Q3 FY'24. Profit After Tax (PAT) for Q3 FY'25 stood at Rs. 107.3 crore, up 16.9 percent from INR 91.8 crore in the previous year.

Standalone PAT for the quarter was INR 103.1 crore, reflecting a 15.5 percent increase over the INR 89.3 crore reported in Q3 FY'24. For the nine months of FY'25, consolidated PAT reached INR 312.1 crore, a 22.8 percent increase from INR 254.1 crore in the same period of FY'24.

The growth in IEX's performance was driven by improved liquidity in the exchange platform, facilitated by a steady supply of coal. This led to a 62 percent increase in sell quantum on the Day-Ahead Market (DAM), resulting in a nearly 26 percent YoY decline in average DAM prices, which stood at INR 3.71 per unit. This provided opportunities for Discoms and commercial consumers to procure electricity at competitive rates. Furthermore, the Indian Gas Exchange (IGX), a subsidiary of IEX, saw a 93 percent YoY growth in traded volumes, reaching 162 lakh MMBtu in Q3 FY'25. IGX's PAT for the quarter was INR 8.3 crore, a 13 percent YoY increase.

On the regulatory front, the Central Electricity Regulatory Commission (CERC) issued draft procedures for trading Carbon Credit Certificates, which IEX plans to introduce on its platform in the near future. This development is expected to further strengthen IEX’s position in the evolving energy market.

The electricity demand in India during Q3 FY'25 was 393 BUs, representing a 3 percent YoY increase. For the first nine months of FY'25, the total electricity demand was 1,279 BUs, up 5 percent compared to the same period in the previous year. Additionally, coal availability remained stable, with inventories at 19 days and coal available at a nominal premium under the Shakti B8 auction.

Overall, IEX’s strong financial results and expansion in trading volumes reflect its growing leadership in India’s energy market and its continued focus on innovation and sustainability.