MUMBAI, THURSDAY, 24 JANUARY 2025: Key highlights of the business performance and the unaudited consolidated financial results for the third quarter ending December 31, 2024, as declared by the Company on 23 January 2025, are listed below:
· Electricity volumes in Q3FY’25 at 30.5 BUs, increased 15.9% from 26.3 BUs in Q3FY’24.
· Renewable energy certificates in Q3FY’25 at 26.52 lakhs, increased 31% from 20.24 lakh in Q3FY’24.
· Consolidated Revenue in Q3FY’25 at Rs 160.5 Cr, increased 13.7% from Rs 141.2 Cr in Q3 FY’24.
· Standalone Profit After Tax in Q3 FY’25 at Rs 103.1 Cr, increased 15.5% from Rs 89.3 Cr in Q3FY’24.
· Consolidated Profit After Tax in Q3FY’25 at Rs 107.3 Cr, increased 16.9% from Rs 91.8 Cr in Q3FY’24.
· Consolidated Profit After Tax for 9MFY’25 at Rs.312.1 Cr, increased by 22.8% from Rs.254.1 Cr in 9M FY24.
BUSINESS UPDATE
On the power sector front, electricity demand at 393 BUs during the third quarter was higher by 3% YoY. For the 9MFY25, country’s electricity demand at 1,279 BU was higher by 5% over the same period last year.
On the fuel side, there has been ample availability of coal this fiscal. Coal is available at a nominal premium of 10% to 20% under the Shakti B8 auction and coal inventory today stands
for about 19 days.
Adequate availability of fuel in this quarter led to higher liquidity on the exchange platform as sell quantum increased by 62% YoY in the day ahead market leading to softening of prices. For Q3FY’25, prices in the Day Ahead market averaged Rs 3.71/unit, a decline of nearly 26% year-on-year. These prices presented an opportunity for Discoms and Commercial & Industrial consumers to meet their demand at a competitive price and to replace their costlier power by procuring through exchanges.
During the quarter, IEX achieved electricity traded volume of 30.5 BU, marking a 15.9% year on year increase and traded 26.52 lakh Renewable Energy Certificates (RECs) recording a 31% year on year increase.
Further, CERC has issued draft procedures for trading of Carbon Credit Certificates for both obligated as well as non-obligated entities through power exchanges. This should result in trading of Carbon Credit Certificates on IEX in the near future.
On the gas market front, the Indian Gas Exchange (IGX) traded total volume of 162 lakh MMBtu for Q3 FY25 as compared to 84 lakh MMBtu in Q3FY24, a growth of 93% YoY. The profit after tax for IGX for Q3 FY25 was at Rs. 8.3 Cr, compared with Rs. 7.4 Cr in Q3 FY’24, a growth of 13% YoY. For the nine months till December FY25 IGX PAT came at Rs.22 Cr, higher by 18% over the same period last fiscal year.
