IEX share price: The stock plunged 6.76 per cent to settle at Rs 137.30. At today's closing price, the scrip has plunged 16.31 per cent in just two trading days.
IEX said the Day-Ahead Market (DAM) volume stood at 4,798 MU in December compared with 5,001 MU in December 2022. The DAM segment registered total volumes of 14,684 MU in the December quarter, up 1.5 per cent YoY.
The exchange witnessed a rise in electricity trading volume, reaching 8,655 MU in December 2023, up by 8.7% compared to the same month in the previous year. For the third quarter of fiscal year 2024, IEX s total volume surged to 28,326 MU, marking a 16.9% growth year-over-year.
IEX said its Day-Ahead Market (DAM) volume climbed 8.3 per cent YoY to 4,742 MU in October from 4,379 MU YoY. It said its Real-Time Electricity Market (RTM) volume rose 6.1 per cent YoY to 2,402 MU from 2,265 MU YoY.
IEX said e-auction premium is easing since January 2023, down from premium of 182 per cent over notified price in January to 106 per cent in September.
"The demand momentum witnessed in August continued into September. The country s electricity consumption increased to 140 BU (Billion Units) during September 23, compared to 127 BU in September 22, marking a year-on-year increase of 10%," the company said in an exchange filing.
In August 2023, the country experienced its lowest August rainfall since 1901, resulting in hot weather conditions that led to an unprecedented surge in electricity demand, the company said in an exchange filing.
IEX said higher liquidity is expected to result in more competitive prices on the exchanges, giving further optimisation opportunities to Discoms and Open Access consumers.
IEX outlook: The implementation of market coupling and its resultant impact on market share and high power price-driven shift in power volumes away from spot market to longer duration instruments will be keenly watched
IEX s revenue from operations for the first quarter came in at Rs 104.03 crore, up 6% from Rs 98.35 crore in the previous year s quarter. Consolidated EBITDA stood at Rs 82 crore in the June quarter, however, the operating margin came in lower at 78.6%, compared to 82.1% in the year-ago period