Indian Energy Exchange Ltd (IEX) reported its highest-ever quarterly and annual performance, with strong growth in electricity volumes, renewable energy certificate (REC) trades, and profitability for the period ended 31 March 2025.
In the fourth quarter (Q4FY25), IEX recorded revenue of ₹174.6 crore, a 17% increase from ₹149.3 crore in the same period last year. Consolidated profit after tax for the quarter rose 21.1% year-on-year to ₹117.1 crore, compared to ₹96.7 crore in Q4FY24. On a standalone basis, Q4 profit was up 17.8% to ₹112 crore.
The exchange also achieved its highest ever quarterly traded electricity volume of 31.7 billion units (BU), representing an 18.1% year-on-year growth, alongside a record 68 lakh RECs traded during the quarter, up 108%.
For the full financial year FY25, IEX posted a consolidated revenue of ₹657.4 crore, an increase of 19.3% from ₹550.8 crore in FY24. Consolidated net profit surged 22.3% to ₹429.2 crore, compared to ₹350.8 crore a year ago. On a standalone basis, FY25 profit stood at ₹414.6 crore, up 21.4% year-on-year.
The board of directors announced a final dividend of ₹1.5 per share, equivalent to 150% of the face value.
On the sectoral front, India’s power demand hit 1,694 BUs in FY25, rising 4.4% YoY, while coal production and dispatch to the power sector rose 5% and 5.9%, respectively. The average market clearing price in IEX’s Day Ahead Market (DAM) stood at ₹4.47/unit in FY25, down 14.7% YoY from ₹5.24/unit due to a 36% increase in sell-side liquidity.
The company’s gas platform, IGX, also posted its highest ever traded volume of 60 million MMBtu, growing 47% YoY. IGX’s FY25 profit increased to ₹31 crore, up 34.3% YoY, while Q4FY25 profit doubled to ₹8.9 crore from ₹4.4 crore in Q4FY24.
IEX’s subsidiary ICX, India’s first accredited International Renewable Energy Certificate (I-REC) issuer, also recorded exponential growth, issuing 59.27 lakh I-RECs and generating revenue of ₹3.41 crore in FY25, up from ₹32 lakh in FY24.
