IEX Explores Options for Setting Up Coal Exchange

30 May 2023 CW Team

Indian Energy Exchange (IEX) has reported flat revenues and net profit for Q4 FY23 and the fiscal year. The company has said that it is exploring options for setting up a coal exchange in India. This would be the third exchange subsidiary that the energy exchange is setting up, after the Indian Gas Exchange in 2020 and the Indian Carbon Exchange in December 2022. IEX also plans to bring in trading in petroleum product pipeline capacity.

The company reported a net profit of ₹82.8 crore for the last quarter and ₹292.69 crore for FY23, compared with ₹80.8 crore and ₹302.51 crore, respectively, for FY22. The company's board has recommended a dividend of ₹1 per share of face value of ₹1 (100%).

Revenues for the quarter and the full year were ₹129.60 crore and ₹474 crore, respectively, compared with ₹127.75 crore and ₹477.87 crore for Q4 and FY22.

The company expects a bright future both because of new products (derivatives, contracts for differences, and virtual PPAs) and new businesses (carbon exchange, coal exchange, and pipeline capacity trading). It also expects business growth from wind and solar companies who set up capacities from which they would sell their electricity through the market, rather than through long-term power purchase agreements with customers.

In 2022-23, IEX also did a buyback of equity shares from the open market route. It purchased and extinguished 69.7 lakh equity shares from the stock markets, spending ₹98 crore. The bought-back shares amounted to 0.78% of the pre-buyback equity share capital of the company.

On the NSE, the IEX share (of the face value of ₹1) was ₹156, which was 25 paise (16%) higher than the previous close.

Also Read
Smart City Mission faces delays in 7 cities
Nellore takes steps toward a waste-free city

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..