Indian Energy Exchange (IEX), which reported flat revenues and net profit for This autumn FY23 and the fiscal 12 months, has stated that it’s exploring choices for setting up a coal alternate in India.
In this context, it was famous in an investor presentation that the Ministry of Coal has appointed a advisor for finalising the framework for a coal alternate in India.
This would then be the third alternate subsidiary that the power alternate is setting up, after the Indian Gas Exchange in 2020 and the Indian Carbon Exchange in December 2022.
Further, IEX plans to additionally usher in buying and selling in petroleum product pipeline capability, the corporate has advised businessline.
It has reported a internet revenue of ₹82.8 crore for the final quarter and ₹292.69 crore for FY23, in contrast with ₹80.8 crore and ₹302.51 crore, respectively, for FY22.
The firm’s board has really helpful a dividend of ₹1 per share of face worth of ₹1 (100 per cent).
Revenues for the quarter and the complete 12 months had been ₹129.60 crore and ₹474 crore, respectively, in contrast with ₹127.75 crore and ₹477.87 crore for This autumn and FY22.
Also learn: Average electricity prices on IEX during FY23 rose 35% on higher demand
The firm expects a shiny future each due to new merchandise (derivatives, contracts for variations, and digital PPAs) and new companies (carbon alternate, coal alternate, and pipeline capability buying and selling).
Moreover, it expects enterprise development from wind and photo voltaic firms who set up capacities from which they might promote their electrical energy via the market, slightly than via long-term energy buy agreements with prospects—as a result of such ‘service provider capacities’ fetch returns (IRR) of 18-20 per cent in contrast with 12-14 per cent below PPAs.
In 2022-23, IEX additionally did a buyback of fairness shares from the open market route. It bought and extinguished 69.7 lakh fairness shares from the inventory markets, spending ₹98 crore. The bought-back shares amounted to 0.78 per cent of the pre-buyback fairness share capital of the corporate.
On the NSE, the IEX share (of the face worth of Re 1) was ₹156, which was 25 paise (16 per cent) greater than the earlier shut.
