New Delhi: The Indian Energy Exchange (IEX) on Thursday posted a 16% jump in its net profit at Rs31.44 crore for the quarter ended 31 March 2018 due to lower operating expenses and higher revenues.
The company’s net profit stood at Rs27.04 crore in the quarter ended on 31 March 2017, the IEX said in a statement.
Its total revenue increased to Rs62.86 crore in the fourth quarter from Rs58.68 crore in the same period of the previous fiscal. During the quarter under review, the company stated that the operating expenditures decreased by 26% to Rs11.65 crore, mainly due to fall in technology cost, which resulted in increase in EBITDA margin from 73% to 81%.
It said that the depreciation and amortisation cost increased from Rs86 lakh to Rs2.93 crore.
During the last fiscal, its net profit increased by 16% to Rs131.68 crore from Rs113.58 crore in 2016-17 . Total revenue in the fiscal ended on 31 March 2018 increased by 10% from Rs232.88 crore to Rs256.07 crore.
Apart from approving the financial results, the board of the company today also recommended a final dividend of Rs22 per equity share (of Rs10 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% over 45,174 MU traded in 2016-17.