IEX shares rise as Q1 profit surges 27%

By Aditya Bhagchandani Published on July 25, 2024, 10:36 IST

Shares of Indian Energy Exchange (IEX) are making headlines today after the company reported a 27% year-on-year increase in consolidated net profit for the June 2024 quarter. The net profit for this period reached ₹96.44 crore, compared to ₹75.8 crore in the same quarter last year.

This significant profit growth is largely due to increased revenues, which rose by 18.75% to ₹123.5 crore, up from ₹104 crore in the previous year’s corresponding quarter, according to a filing with the BSE.

As of 10:12 AM, IEX shares were trading 1.22% higher at ₹176.55 on the NSE. This positive movement reflects investor confidence in the company’s strong performance and growth potential.

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Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.