Indian Energy Exchange announced its Q2 results on Thursday after market close.

What Happened: IEX reported a 28.29% year-on-year jump in standalone net profit to ₹106.08 crore. The power trading exchange’s revenue gained 28.29% to ₹139.24 crore. In the previous year, the company had a ₹82.86 crore net profit and revenue of ₹108.53 crore.

The numbers beat the analysts’ net profit and revenue estimates of ₹102.7 crore and ₹136.63 crore, respectively.

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IEX’s shares have taken a beating recently with the Indian government going ahead with their plans for market coupling which will hamper the company’s monopoly in power trading.

The company’s total trading volumes shot up 24% to 11,370 MU in September.

Price Action: Shares of IEX were up 0.95% to ₹184.55 on Thursday. IEX’s shares have fallen almost 23% from their highs after reports of market coupling resurfaced in September

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