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					</table><p>The Indian Energy Exchange’s (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) profit after tax (PAT) demonstrated an uptrend, with an 18.9% year-over-year (YoY) increase, soaring to ₹918 million (~$11 million) in the third quarter (Q3) of the financial year (FY) 2023-24 from ₹772 million (~$9.2 million).</p>
<p>The company&#8217;s total trading volumes surged by 16.8%, reaching 28.3 billion units (BU) compared to 24.2 BU in the same period last year.</p>
<p>The growth was accompanied by a 20.4% YoY increase in revenue, rising from ₹1.17 billion (~$ 14.07 million) in Q3 FY 23 to ₹1.41 billion (~$16.9 million) in Q3 FY 24.</p>
<p>For the first nine months (9M) of the year, IEX recorded ₹2.54 billion (~$30.5 million) of PAT, a YoY increase of 16.5%. The revenue for the period stood at ₹4.02 billion ($48.3 million), a 16.5% YoY increase from ₹3.45 billion ($41.5 million).</p>
<p><strong>Operational Highlights</strong></p>
<p>During the quarter, IEX recorded a trading volume of 28.3 BU, with 25.9 BU attributed to the conventional power market segment and an additional 0.4 BU from the green market segment.</p>
<p>The company facilitated the trading of 2.03 million certificates during this period.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-62655 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1.png" alt="" width="1185" height="615" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1.png 1185w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1-300x156.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1-768x399.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1-650x337.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1-624x324.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/1-600x311.png 600w" sizes="(max-width: 1185px) 100vw, 1185px" /></p>
<p>In the power sector, October saw a peak power demand of 221 GW, and electricity consumption during Q3 FY’24 increased by 10% YoY, reaching approximately 380 BUs.</p>
<p>The improved supply scenario resulted in increased sell liquidity since November 2023. Sell bids in collective auctions rose by 25% YoY in November 2023 and 18% YoY in December 2023, leading to a softening of prices on the exchange.</p>
<p>The average market clearing price in the Day-Ahead Market (DAM) segment during Q3 FY 24 was ₹5.00 (~$0.060)/unit, compared to ₹5.80 (~$0.069)/unit in Q2 FY&#8217;24. Increased electricity consumption coupled with an easing supply-side led to a surge in the volumes of electricity traded on the Exchange.</p>
<p>The company said that positive regulatory and policy developments during the quarter, including the revised Indian Electricity Grid Code and the Sharing of Inter-State Transmission Charges Regulations, are expected to enhance the sell liquidity on Exchanges further, resulting in a potential decline in power prices.</p>
<p>IEX <a href="https://www.mercomindia.com/energy-trading-iex-fell-december-23" target="_blank" rel="noopener">traded</a> 232 MU of green energy in December 2023, a 38% YoY drop from 377 MU.</p>
<p>In Q2 FY24, it <a href="https://www.mercomindia.com/iex-21-jump-profits-green-energy-trade-drops" target="_blank" rel="noopener">recorded</a> a PAT of ₹865 million (~$10.39 million), a 21.5% YoY increase from ₹712 million (~$8.55 million).</p>
<p>Mercom recently <a href="https://www.mercomindia.com/green-energy-trading-takes-hit-2023" target="_blank" rel="noopener">reported</a> on the downward trend of the green energy trade at the IEX and the reasons behind it.</p>


IEX Records 19% Jump in Q3 Profits, Trades 400 MU of Green Energy

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