IEX stock jumps over 3% after energy firm reports inline Q3 numbers
The company's consolidated profit after tax (PAT) for the December quarter was higher by 19 per cent to Rs 92 crore compared to Rs 77.2 crore Year-on-Year (YoY). It beat analysts' estimates of Rs 91 crore.
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IEX Share Price: India Energy Exchange's (IEX) stock had a good start to the trading session on BSE on Monday (January 29, 2024) after the firm reported results inline to Zee Business research estimates.
The stock of the energy company was trading up by 3.32 per cent, or Rs 4.50 per cent, at Rs 140.20 at 11:45 am on Monday.
IEX Q3 results
The company's consolidated profit for the December quarter was higher by 19 per cent to Rs 92 crore compared to Rs 77.2 crore Year-on-Year (YoY). It beat analysts' estimates of Rs 91 crore.
Consolidated revenue from operations also jumped by 15 per cent to R 115.3 crore against Rs 100.27 crore, above Street estimates of Rs 117 crore.
The company's margin in the December quarter was up by 86 per cent against 83 per cent in the same quarter a year ago. Analysts had estimated IEX's margin to be 88.6 per cent.
The volume also saw a rise of 16.8 per cent to 28.3 BU against 24.2 BU YoY.
The volume included 25.9 BU from the conventional power market segment and 0.4 BU from the green market segment.
The average price of power eased to Rs.5.00 k6Wh/unit in Q3 from Rs.5.88 kWh/unit in Q2.
India’s First Gas Index - GIXI was launched on December 19, 2022.
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