New Delhi, Oct 29 (PTI) Indian Energy Exchange Ltd (IEX) on Thursday reported a 12.9 per cent year-on-year increase in consolidated net profit to Rs 139.2 crore for the September quarter, supported by higher electricity trading volumes amid strong power demand and rising prices in the spot market.
Consolidated revenue rose 10.7 per cent to Rs 203 crore in the quarter ended September 30, while electricity trading volumes increased 12.7 per cent to 39.7 billion units (BUs), the exchange said in a statement.
For the first half of FY27, consolidated net profit grew 12.3 per cent to Rs 274 crore, while revenue increased 10.4 per cent to Rs 405.8 crore. Electricity volumes rose 14.2 per cent to 77.2 BUs.
Power demand across India increased 11.5 per cent year-on-year to a record 502 BUs in the September quarter, driven by elevated temperatures associated with El Nino and deficient monsoon rainfall, IEX said. Demand during the first half grew 10.2 per cent to 897 BUs, supported by industrial activity and higher irrigation requirements.
The stronger demand environment pushed the average market-clearing price in IEX's Day-Ahead Market up 46 per cent year-on-year to Rs 5.7 per unit during the quarter. Prices in the Real-Time Market rose 49 per cent to Rs 5.2 per unit.
Higher spot prices can encourage generators and buyers to trade through exchanges, although the impact on volumes depends on the availability of electricity, fuel costs and procurement decisions by distribution utilities.
The power market also faced fuel-supply constraints. Domestic coal production fell 1 per cent year-on-year to about 445 million tonnes in the first half of FY27. Coal inventories were at nearly eight days of consumption as of October 22, while stocks at about 100 power plants were at a critical level of around three days, IEX said.
The combination of stronger electricity demand and constrained coal availability highlights the importance of efficient market-based power procurement, particularly during periods of weather-related demand spikes.
IEX's gas exchange subsidiary, Indian Gas Exchange (IGX), recorded a sharper expansion in trading activity. Gas volumes rose 160 per cent year-on-year to 42 million million British thermal units (MMBtu) in the September quarter and increased 71 per cent to 69.5 million MMBtu in the first half.
The growth was driven by higher volumes from domestic gas producers and increased use of gas-fired power plants in August and September. The power sector accounted for nearly 30 per cent of IGX's traded gas volumes in the quarter.
IGX's profit after tax rose 144 per cent to Rs 23.4 crore in Q2 FY27 and increased 67.4 per cent to Rs 39.7 crore in the first half.
Meanwhile, ICX Pvt Ltd, formerly known as International Carbon Exchange, issued nearly 52 lakh International Renewable Energy Certificates (I-RECs) in the September quarter, up 38.4 per cent year-on-year. Revenue increased 20.7 per cent to Rs 2.3 crore. For the first half, certificate issuance rose 15 per cent to 94 lakh, while revenue grew 18.5 per cent to Rs 4.4 crore.
IEX's wholly-owned subsidiary, Indian Coal Exchange Ltd., also applied for a licence with the Coal Controller Organisation during the quarter, marking a step towards its proposed entry into coal trading.
