Companies

IEX net profit up 16.9 per cent to ₹204.5 crore in FY20-21

?OUR BUREAU New Delhi | Updated on May 14, 2021

Growth was driven by competitive power prices, growing consumption of electricity, adequate availability of domestic coal, and commencement of real-time market

Indian Energy Exchange Ltd on Friday said its net profit for financial year 2020-21 rose by 16.9 per cent on a year-on-year basis to ₹204.5 crore.

Total revenue for the year rose 19.8 per cent to ₹356.2 crore, IEX said in a statement. For the January-March quarter, net profit rose 33.6 per cent to ₹60.8 crore.

Also read: Covid second wave likely to impact recovery of energy demand

“The growth was driven by the competitive power prices creating traction with the distribution utilities as well as the industrial consumers, growing consumption of electricity, availability of adequate domestic coal, besides commencement of the new and much awaited market segments such as the real time market and the green market,” IEX said.

The average market clearing price in the day-ahead market of IEX’s electricity exchange fell 6 per cent to ₹2.82 per unit during the fiscal year, while the volume of electricity traded rose 37.3 per cent  to 73,965.4 million units.

However, with the second wave of Covid ushering in a new series of disruptions and lockdowns, trading on the exchange during April fell 6.6 per cent on a month-on-month basis to 7.7 billion units.

 

Also read: Green certificates trading shrinks to 9.2 lakh in 2020-21

 

Published on May 14, 2021

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