IEX net up 33 pc at Rs 41.89 Cr in April-June quarter

Indian Energy Exchange today posted a 33 per cent jump in net profit at Rs 41.89 crore in the quarter ended on June 30, 2018 compared to the year-ago period mainly on the back of higher revenues.

The company's net profit was Rs 31.38 crore in the quarter ended on June 30, 2017, a BSE filing said.

Its total income rose to Rs 74.18 crore in the quarter from Rs 61.90 crore a year ago.

The company is a registered power exchange and the same constitutes a single operating segment.

Apart from approving the results, the board in its meeting recommended Sub-Division of 1 equity share of face value of Rs 10 each fully paid up into 1 equity shares of Rs 1 each fully paid up, resulting in issuance 10 equity shares of Rs 1 each fully paid up, thereby keeping the paid up capital intact, subject to the approval of the members in the ensuing 12thAnnual General Meeting.

The board also approved increase in limit of total shareholding of FPI/FII from 24 per cent up to 49 per cent (which is present sectorial cap under existing FDI Policy).