Indian Energy Exchange Ltd (IEX) on Thursday, July 24, reported a 25.2% year-on-year (YoY) jump in its first quarter net profit at ₹120.7, up from ₹96.4 crore in Q1FY26.
Revenue from operations increased 14.7% to ₹141.7 crore against ₹123.5 crore a year ago.
At the operating level, EBITDA was up 16.1% to ₹115.6 crore in the June quarter over ₹99.6 crore in the corresponding period in the previous fiscal. EBITDA margin grew to 81.6% compared to 80.6% last year.
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Indian Energy Exchange reported a 14.9% YoY increase in electricity volumes to 32.4 billion units (BU) in Q1 FY26. The exchange also witnessed a sharp surge in the trading of renewable energy certificates (RECs), with 52.7 lakh RECs traded during the quarter — up 149.3% YoY.
In the day ahead market (DAM), supply liquidity rose 45.2% YoY, leading to a decline in average market clearing price to ₹4.41 per unit, down nearly 16% from the year-ago period. Similarly, in the real-time market (RTM), the average price fell 20% YoY to ₹3.91 per unit in Q1FY26.
IGX, ICX results
On the gas market front, the Indian Gas Exchange (IGX), a subsidiary of IEX, recorded its highest quarterly volume, trading 24.6 million MMBtu in Q1 FY26. This marked a 109% YoY increase, driven by strong demand from oil marketing companies and city gas distributors. IGX reported a profit after tax of ₹14.1 crore for the quarter, an 86.7% jump from ₹7.6 crore in Q1FY25.
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International Carbon Exchange (ICX), IEX’s wholly owned subsidiary, issued over 44 lakh international renewable energy certificates (I-RECs) during the quarter, compared to 59 lakh issued in the entire previous fiscal. ICX posted a revenue of ₹178.8 lakh in Q1 FY26. I-RECs are globally recognised digital certificates representing the generation of 1 MWh of renewable energy.
The results came after the close of the market hours. Shares of Indian Energy Exchange Ltd ended at ₹132.45, down by ₹55.40 or 29.49%, on the BSE.
