IEX posts Q4 revenue at Rs 102 crore on rising transactions

New Delhi [India], May 14 (ANI): Indian Energy Exchange (IEX) said on Friday its standalone revenue for the January to March quarter grew by 28 per cent to Rs 102 crore from Rs 79 crore in Q4 FY20 due to 41 per cent increase in transaction revenue.
For the fiscal year 2021, the growth was over 20 per cent with revenue totalling Rs 357 crore.
Q4 FY21 saw the highest ever quarterly electricity volume at 22.4 billion units and also the highest ever growth of 62.1 per cent.
The fiscal 2021 saw the highest ever yearly volume of 73.9 billion units traded at the exchange since 2008, resulting in 37 per cent year-on-year growth.
IEX said the growth was driven by competitive power prices, creating traction with distribution utilities as well as industrial consumers, growing consumption of electricity, availability of adequate domestic coal besides commencement of new and much-awaited market segments like real time market and green market.
The day-ahead market saw an average market clearing price of Rs 2.82 per unit in the fiscal year 2021, about 6 per cent lower than the previous year price.
Low power prices and ample sell-side liquidity through the year helped distribution utilities and industrial consumers to optimise their power procurement and maintain good financial liquidity amid the Covid crisis, said the exchange.
IEX is India's premier energy exchange providing a nationwide automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.
The exchange platform enables efficient price discovery, and increases accessibility and transparency of the power market while enhancing speed and efficiency of trade execution. (ANI)