IEX posted its earnings for the quarter ended June on Wednesday evening.
What Happened: The company reported a 27% year-on-year (YoY) rise in consolidated net profit, reaching ₹96.44 crore in the June quarter, driven by higher revenues. The company reported a consolidated net profit of ₹75.8 crore in the same quarter last year.
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The power trading exchange’s revenue from operations increased by 18.75% YoY to ₹123.5 crore, compared to ₹104 crore in the corresponding quarter of the previous year.
In the April-June quarter, IEX reported an electricity volume of 28,178 million units, reflecting a 19% year-on-year increase. Including certificates, the total volume for the quarter reached 30,354 million units, marking a 20.8% rise from the same period last year. IEX reported an electricity volume of 10,185 million units for the month of June, a 24.7% year-on-year increase.
Price Action: IEX’s share price was up 3.68% to close at ₹174.43 on Wednesday.
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