Indian Energy Exchange (IEX) reported a 16.1% increase in electricity volume in Q2 FY’26, reaching 35.2 BU. Standalone profit after tax rose by 14.6% to ₹121.61 Crore. Consolidated profit after tax increased by 13.9% to ₹123.35 Crore. The Indian Gas Exchange (IGX) also saw growth, with gas volumes up by 36.6% and profit after tax increasing by 57%.
Key Financial Highlights
Indian Energy Exchange (IEX) has announced its unaudited financial results for the quarter ending September 30, 2025. Key highlights include:
- Electricity volumes in Q2 FY’26 reached 35.2 BU, a 16.1% year-on-year growth.
- Certificate volumes stood at 44 lakhs, a decrease of 29.9% year-on-year.
- Consolidated Revenue in Q2 FY’26 was ₹183.27 Crore, up 9.2% from ₹167.77 Crore in Q2 FY’25.
- Standalone Profit After Tax in Q2 FY’26 reached ₹121.61 Crore, a 14.6% increase from ₹106.1 Crore in Q2 FY’25.
- Consolidated Profit After Tax in Q2 FY’26 was ₹123.35 Crore, a 13.9% increase from ₹108.32 Crore in Q2 FY’25.
Indian Gas Exchange (IGX) Performance
The Indian Gas Exchange (IGX) traded gas volumes of 161 lakh MMBtu in Q2 FY’26, a growth of 36.6% over Q2 FY’25. IGX recorded a profit after tax of ₹9.6 Crore for Q2 FY’26, which is 57% higher than the ₹6.1 Crore reported in Q2 FY’25.
Market Dynamics
Electricity demand growth remained moderate during the second quarter, with power demand at 449 BUs, 3.4% higher year-on-year. Coal inventory stood at nearly 20 days as of October 2025. Prices of imported coal remained favorable at nearly $42/ton, compared to nearly $52/MMBtu in Q2 FY’25. Increased hydro, wind, and sustained supply from coal-based generation led to higher supply liquidity and a drop in Day-Ahead Market (DAM) and Real-Time Market (RTM) prices.
I-REC Issuance
In Q2 FY’26, the International Carbon Exchange (ICX) issued 38 lakh I-RECs, bringing the total to 82 lakh in the first half of FY’26, surpassing the 59 lakh issued in FY’25. Revenue for ICX in Q2 FY’26 stood at ₹1.9 Crore. In the first half of FY’26, ICX reported revenue of ₹3.7 Crore.
Source: BSE
