After a strong performance in the second quarter of 2023-24, IEX share prices continued their upward trajectory, gaining over 5 percent as the energy exchange achieved a total electricity volume of 9,260 MU in October 2023.
By 1:07 pm, IEX shares were trading at Rs 133.80, marking a significant 4.6 percent increase from the previous session’s closing price on the NSE.
The total electricity volume witnessed a remarkable increase of 21 percent year-on-year. IEX accomplished an overall volume of 9,483 MU, which included 2.17 lakh Renewable Energy Certificates (RECs) equivalent to 217 MU, and 5,814 Energy Saving Certificates, constituting 5.8 MU.
On November 2, IEX released its second-quarter results, reporting a strong 21.4 percent year-on-year increase in consolidated net profit, reaching Rs 86.5 crore.
The power trading platform’s revenue also demonstrated a solid growth of 14 percent, reaching Rs 108.5 crore. Investors responded positively to both the robust quarterly performance and the impressive electricity volume achieved in October, leading to the surge in IEX share prices.
