IEX Q1 Result: Profit Jumps 25% YoY To Rs 120 Cr, Stock Down 29% Post Market Coupling News

IEX Q1 Result: Indian Energy Exchange's net profit increased by 25% year-on-year (YoY) to Rs 120.69 crore in the June quarter of the financial year 2025-26 against a profit of Rs 96.44 crore in the year-ago period. IEX's revenue increased by 19% annually to Rs 141.75 crore.

Ahead of the company's result announcement, the IEX share price tanked around 29% during Thursday's trading session after the central government's announcement to implement a market coupling mechanism for power trading. IEX share price closed 29.49% lower at Rs 132.45 per share on BSE on Thursday.

IEX Q1 Result Highlight

IEX reported a net profit of Rs 120 crore in June quarter. The company's revenue from operations stood at Rs 141.75 crore against Rs 123.56 crore reported in the year ago period. With this, its total income stood at Rs 184.17 crore during the quarter under review. IEX's earnings per share (EPS)'s earnings per share stood at 1.36 in the June quarter.

Its electricity volumes increased by 14.9% on an annual basis to 32.4 BUs during the first quarter. As per the company's press release, 52.7 lakh RECs traded during Q1FY'26, increased 149.3% YoY.

Despite forecasts of an intense summer leading to a peak demand expectation of 277 GW, early monsoon and widespread unseasonal rains kept temperatures lower, resulting in lower-than-expected power demand. According to government data, India's electricity consumption in Q1FY'26 reached 446 BUs, lower by 1.3% as compared with Q1 FY'25.

Lower-than-expected power demand during the quarter because of favourable monsoon conditions impacted the company business. "During the quarter, with an increase in hydro, wind and sustained supply from coal-based generation, supply liquidity on power exchanges improved and kept prices competitive. In Q1 FY'26, supply liquidity in the DAM segment increased 45.2% on YoY basis.

As a result, price in the Day Ahead market averaged Rs 4.41/unit, a decline of nearly 16% YoY. Similarly, price in the Real-Time Market averaged Rs 3.91/unit during Q1 FY'26, a decline of 20% compared to Q1 FY'25," read IEX press release.

Its Indian Gas Exchange (IGX) traded record gas volumes of 24.6 million MMBtu in the first quarter, which was 109% higher due to surge in demand from oil marketing companies and city gas distribution companies.

IEX Share Price Today

IEX share price witnessed a massive crash on Thursday. The company stock ended 29% lower on July 24, a day after the Central Electricity Regulatory Commission (CERC) announced the approval of implementation of market coupling mechanism.

IEX shares declined nearly 35.8% in two months. Additionally, the stock has declined around 26.54% since the beginning of the year 2025.

Market coupling is a mechanism which ensures neutralisaton in divers power trading costs and structure. The centralised price discovery mechanism ensures to create a single, uniform price for electricity across different trading platforms.

About IEX

IEX's is an electricity exchange which offers an automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. IEX enjoys a giant share of the power trading market in the country.