On Friday, the share price of the Indian Energy Exchange (IEX) surged by an impressive 5.5% after the company reported a significant 21% uptick in its consolidated net profit for the March quarter of FY25. The profit climbed to ₹117.11 crore, a notable rise from the previous year, primarily driven by enhanced revenue streams. This announcement, made on Thursday, has garnered attention in the financial markets.
Strong Financial Performance
According to a recent regulatory filing, IEX’s consolidated net profit for the quarter ending March 31, 2024, was recorded at ₹96.68 crore. The company’s total income soared to ₹174.59 crore, a rise from ₹149.28 crore during the same period last year. For the fiscal year 2024-25, IEX’s consolidated net profit reached ₹429.16 crore, compared to ₹350.78 crore in the prior financial year.
- Total income for FY24-25: ₹657.36 crore (up from ₹550.84 crore in FY23-24)
- Proposed final dividend: ₹1.50 per equity share (face value of Re 1 each)
The board has set May 16, 2025, as the date to determine shareholder eligibility for this dividend.
Record Electricity Trading Volume
IEX also achieved a remarkable milestone in Q4 FY25, recording its highest quarterly electricity trading volume to date with 31.7 billion units (BU). This represents an 18.1% increase compared to the same quarter last year, highlighting the exchange’s growing market presence.
Today’s Trading Activity
The IEX share opened at ₹194.60 on the BSE, reaching an intraday high of ₹201.25 and a low of ₹194.35. Anshul Jain, Head of Research at Lakshmishree Investments, noted that the stock has broken out of a 90-day rectangle pattern, indicating bullish momentum. He emphasized that for this breakout to be validated, trading volumes should exceed five times the 50-day average. Maintaining prices above ₹191 could lead to further gains, potentially driving the stock towards ₹210 and then ₹242, providing attractive risk-reward opportunities for traders.
Market Analyst Insights
Rajesh Bhosale, an Equity Technical and Derivative Analyst at Angel One, pointed out that the stock opened with a gap up and has been experiencing follow-up buying, with gains surpassing 4%. He noted that the bullish gap around ₹190 is expected to serve as support, with the potential for prices to extend upward to ₹213 in the near term.
Conclusion
The robust financial results, alongside strategic market movements, signify a promising outlook for IEX shares. As the company continues to innovate and expand its electricity trading capabilities, investors are keenly watching the stock’s performance for further developments. If you’re interested in trading or investing in energy stocks, consider keeping an eye on IEX and other emerging players in the market.
