Indian Energy Exchange (IEX) announced its unaudited financial results for the quarter ended December 31, 2025. IEX reported electricity volume of 34.1 BUs, a 11.9% YoY growth. Standalone PAT stood at ₹115.1 Crore, up by 11.6% YoY. The board also announced an interim dividend of ₹1.50 per share.
Financial Performance Highlights
IEX reported strong financial performance for the third quarter of fiscal year 2026. Key highlights include:
- Electricity volume in Q3 FY’26 reached 34.1 BUs, reflecting an increase of 11.9% YoY.
- Consolidated Revenue in Q3 FY’26 amounted to ₹183.1 Crore, a 14% increase from ₹160.5 Crore in Q3 FY’25.
- Standalone Profit After Tax in Q3 FY’26 was reported at ₹115.1 Crore, up 11.6% from ₹103.1 Crore in Q3 FY’25.
- Consolidated Profit After Tax in Q3 FY’26 reached ₹119.1 Crore, showing an increase of 11.0% from ₹107.3 Crore in Q3 FY’25.
- Consolidated Profit After Tax for the nine-month period (9MFY’26) stood at ₹363.1 Crore, marking a 16.4% increase from ₹312.1 Crore in 9MFY’25.
Interim Dividend Announcement
The Board of Directors has announced an interim dividend of ₹1.50 per share, which is equivalent to 150% of the face value of the equity share.
Business Update
Prolonged monsoons in 2025 led to lower electricity requirements, with electricity demand during Q3 FY’26 remaining flat at 392 BUs. Ample fuel availability at competitive prices led to a coal inventory of 25 days as of December 2025. The prices of imported coal remained favourable at nearly $47/tonne, a 10% decline compared to the same quarter last year.
Market Dynamics
Increased capacity addition along with improvements in supply from solar, hydro, wind, and coal-based generation improved liquidity and led to a decline in DAM and RTM prices.
- The Market Clearing Price in the Day-Ahead Market declined by 13.2% to ₹3.22/unit during Q3 FY’26 compared to Q3 FY’25.
- The Market Clearing Price in the Real-Time Market declined by 11.6% to ₹3.26/unit during Q3 FY’26 compared to Q3 FY’25.
Indian Gas Exchange (IGX) Performance
IGX traded gas volumes of 17.5 Million MMBtu in Q3 FY’26, reflecting an 8% growth over Q3 FY’25. IGX recorded a profit after tax of ₹8.8 Crore, 6% higher than the ₹8.3 Crore in Q3 FY’25. For 9MFY’26, IGX recorded a profit after tax of ₹32.5 Crore, up 47.9% from ₹22 Crore in 9MFY’25.
International Carbon Exchange (ICX)
In Q3 FY’26, ICX issued 51 lakh I-RECs, bringing the total to 133 lakh in the first nine months. Revenue for ICX in Q3 FY’26 was ₹1.8 Crore and in 9MFY’26 was ₹5.5 Crore.
Source: BSE
