IEX Q2 results: Net profit rises 13.9% YoY to ₹123.3 crore; electricity volumes up 16%

Indian Energy Exchange Ltd (IEX) on Thursday, October 30, reported a 13.9% year-on-year (YoY) rise in net profit to ₹123.3 crore for the second quarter of FY26, compared to ₹108.3 crore in the same period

last year.

Revenue from operations grew 10.5% YoY to ₹153.9 crore, while EBITDA increased 11.4% YoY to ₹133.4 crore. The company maintained healthy operating margins at 86.7%, slightly higher than 86% a year ago.

Electricity market volumes for the quarter stood at 35.2 billion units (BU), marking a 16.1% YoY growth, reflecting robust demand across segments.

IEX also reported strong performance in Renewable Energy Certificates (REC), with 97 lakh certificates traded in H1 FY26, up 15.2% YoY.

Earlier in the day, IEX shares recovered from early losses after the Appellate Tribunal for Electricity (APTEL) deferred the hearing of the company’s plea challenging the Central Electricity Regulatory Commission’s (CERC) directive on market coupling.

APTEL noted that IEX, being India’s largest power exchange, has claimed its market share could be adversely affected by the CERC order. However, the tribunal members recused themselves from the hearing, and the next hearing has been scheduled for November 28.

IEX had moved APTEL against the CERC’s July 2025 order directing market coupling among leading electricity exchanges. In the previous hearing on October 13, APTEL asked IEX to file a revised plea, including additional parties such as Grid Corporation of India, which conducted pilot studies for market coupling, and rival exchanges Power Exchange of India Ltd (PXIL) and Hindustan Power Exchange.

Shares of Indian Energy Exchange Ltd ended lower on Thursday, October 30, by 3.57% at ₹143.35 on the NSE.

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