IEX Share Price in Focus; Reports 14% PAT Growth in Q2 FY26 Results

Indian Energy Exchange Limited (IEX) announced its unaudited consolidated financial results for the quarter ended September 30, 2025, showcasing consistent operational and financial growth. The company’s consolidated revenue for Q2 FY26 stood at ₹183.27 crore, a 9.2% increase from ₹167.77 crore in Q2 FY25.

The standalone profit after tax (PAT) for the quarter rose 14.6% to ₹121.61 crore compared to ₹106.1 crore in the same period last year, while consolidated PAT increased 13.9% year-on-year to ₹123.35 crore from ₹108.32 crore in Q2 FY25.

Electricity Volumes and Market Trends

Electricity volumes during Q2 FY26 stood at 35.2 billion units (BUs), marking a 16.1% year-on-year rise. However, certificate volumes declined 29.9% to 44 lakh units. Power demand across the country remained moderate, rising 3.4% YoY to 449 BUs, supported by favorable weather and adequate fuel availability.

Ample coal supply and lower imported coal prices, averaging around $42/ton in Q2 FY26 versus $52/MMBtu in Q2 FY25, contributed to stable generation. Increased hydro and wind power supply also improved market liquidity, resulting in a decline in average electricity prices.

The Market Clearing Price (MCP) in the Day-Ahead Market dropped 12.5% to ₹3.93/unit, while the Real-Time Market MCP fell 16.1% to ₹3.51/unit.

Gas and Carbon Exchange Businesses Show Growth

The Indian Gas Exchange (IGX) recorded a strong performance, with gas volumes of 161 lakh MMBtu traded in Q2 FY26, reflecting a 36.6% increase year-on-year. IGX posted a PAT of ₹9.6 crore, up 57% from ₹6.1 crore in Q2 FY25, driven by stable gas prices and supportive policy measures.

The International Carbon Exchange (ICX) also showed steady progress, issuing 38 lakh International Renewable Energy Certificates (I-RECs) in Q2 FY26, taking total H1 FY26 issuances to 82 lakh, surpassing the full-year FY25 figure of 59 lakh. ICX revenue for Q2 stood at ₹1.9 crore, and ₹3.7 crore for H1 FY26.

IEX Share Price Performance

On October 31, 2025, IEX share price opened at ₹145.99, up from its previous close of ₹143.55. At 10:48 AM, the share price of IEX was trading at ₹142.11, down by 1% on the NSE.

Also Read: IEX Share Price Slide Near 2% Ahead of Electricity Tribunal Hearing on Market Coupling!

Conclusion

IEX continues to deliver consistent growth across its electricity, gas, and carbon exchange platforms. With favorable market conditions, strong liquidity, and supportive government initiatives, the company remains well-positioned to lead India’s energy trading ecosystem and sustain long-term profitability.

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