Indian Energy Exchange (IEX) opened almost 7.5% higher at Rs.166.95, which was also its intraday high. The company’s 52-week high and low stands at Rs.203.40 and Rs.111.05 respectively.
The company posted a very encouraging set of earnings for Q4FY20. It posted a net profit of Rs.47 crore, rise of 25% (YoY) on a 17% rise in revenue largely on account of increase in overall volumes - Q4 FY’20 electricity volumes increased 40% from 9,908 MU in Q4 FY’19 to 13,835 MU in FY’20. TAM volumes increased 89% YoY.
On the price front, the day ahead market saw an overall decline in prices by 14% during Q4 FY’20. Attractive prices helped the commercial and industrial consumers increase procurement by 41% during the same quarter. Including REC, total volumes increased 29% YoY.
The company said that it is all set to launch Real Time Market on June 1, 2020 and India’s first Gas Exchange soon.