IEX Q1 net profit rises 11.65% as power trading volume grows 15.9%
Indian Energy Exchange Limited (IEX) reported an 11.65% year-on-year increase in consolidated net profit to Rs 134.75 crore in Q1 FY27, supported by higher electricity trading volumes amid stronger power demand during the summer season.
Revenue from operations increased 11.37% to Rs 157.87 crore during the quarter, compared with the corresponding period of FY26. Profit before tax (PBT) rose 11.62% year-on-year to Rs 176.80 crore. On a consolidated basis, including other income, revenue stood at Rs 202.8 crore, up 12% year-on-year, while profit after tax (PAT) was Rs 134.8 crore.
Electricity traded on the IEX platform reached 37.5 billion units (BUs) during Q1 FY27, registering year-on-year growth of 15.9%.
Power demand
Trading activity was supported by higher electricity consumption during a hotter-than-normal summer marked by persistent heatwaves and above-normal temperatures.
India’s peak power demand reached a record 270.8 GW in May 2026. Electricity consumption during Q1 FY27 increased 8.8% year-on-year to 485.4 BUs, creating higher demand for short-term power procurement and trading.
The growth in exchange volumes continued the trend seen in FY26, when electricity traded through IEX increased 17% year-on-year to 141 BUs. This was equivalent to around 8% of India’s total electricity consumption.
Real-time market
The Real-Time Market (RTM) has emerged as an important source of volume growth for IEX as increasing renewable generation creates a greater requirement for participants to balance electricity positions closer to actual delivery.
RTM volumes increased 41% during FY26 and accounted for 34% of the company’s total electricity volumes. Management said the RTM has now grown to a size comparable with the Day-Ahead Market (DAM).
IEX said increasing power demand, higher renewable energy generation and greater adoption of real-time electricity trading continue to support participation on its platform.
The exchange has more than 9,000 registered participants, with all distribution utilities participating on the platform. IEX said it continues to account for around 80%-85% of India’s electricity exchange market.
FY26 performance
For FY26, IEX reported consolidated revenue of Rs 747 crore, an increase of 13.6% from the previous financial year. Consolidated PAT increased 15% to Rs 492 crore, while annual electricity trading volumes rose 17% to 141 BUs.
The company reported a net worth of Rs 1,400 crore and earnings per share (EPS) of Rs 5.33 for FY26. Return on equity has remained in the 42%-44% range over the past four to five years.
Management also identified gas, environmental products, coal and carbon trading as areas for future growth as IEX looks to expand beyond its core electricity exchange business. At the same time, the company acknowledged regulatory risks associated with market coupling.
