IEX posts 16 pc rise in Q4 net profit at Rs 31 cr

The Indian Energy Exchange (IEX) today posted a 16 per cent jump in its net profit at Rs 31.44 crore for the quarter ended March 31, 2018 due to lower operating expenses and higher revenues.

The company's net profit stood at Rs 27.04 crore in the quarter ended on March 31, 2017, the IEX said in a statement.

Its total revenue increased to Rs 62.86 crore in the fourth quarter from Rs 58.68 crore in the same period of the previous fiscal.

During the quarter under review, the company stated that the operating expenditures decreased by 26 per cent to Rs 11.65 crore, mainly due to fall in technology cost, which resulted in increase in EBITDA margin from 73 per cent to 81 per cent.

It said that the depreciation and amortisation cost increased from Rs 86 lakh to Rs 2.93 crore.

During the last fiscal, its net profit increased by 16 per cent to Rs 131.68 crore from Rs 113.58 crore in 2016-17.

Total revenue in the fiscal ended on March 31, 2018 increased by 10 per cent from Rs 232.88 crore to Rs 256.07 crore.

Apart from approving the financial results, the board of the company today also recommended a final dividend of Rs 22 per equity share (of Rs 10 face value) and decided not to go ahead with the buyback of equity shares of the company.

Total volume of electricity traded across all market segments at IEX was 56,822 million units (MU), which is an increase of 26 per cent over 45,174 MU traded in 2016-17.