Gold
IEX reports 13.7% spike in annual volume; 110.1 billion units in FY24
The Indian Energy Exchange (IEX) disclosed a notable 13.7% uptick in total volumes, reaching 110.1 billion units (BU) for the fiscal year ending March 31, 2024. The company unveiled its audited standalone financial outcomes on May 15, 2024, spotlighting a robust revenue surge of 16.2% to Rs5.508 billion. Profit After Tax (PAT) for the year marked a commendable ascent of 16.7 %, reaching Rs3.414 billion, while consolidated PAT escalated by 14.7 % to Rs3.508 billion. In the fourth quarter alone, IEX observed a notable 15.5 % surge in total volumes, recording 30.1 BU. Quarterly revenue soared to ..
IEX Q4 Net Profit Grows 9.5%
The Indian Energy Exchange (IEX) has reported a significant uptick in its net profit for the fourth quarter, marking a notable growth of 9.5%. This financial performance underscores the resilience and strength of the company's business model in navigating through dynamic market conditions within the energy sector.
The impressive growth in net profit reflects IEX's robust operational performance and effective strategic initiatives aimed at enhancing efficiency and driving sustainable value creation. As a leading power trading platform in India, IEX plays a pivotal role in facilitating t..
IEX trades up 285% YoY
The Indian Energy Exchange (IEX) traded 1.52 million renewable energy certificates (RECs), equivalent to 1,520 million units (MU), in January 2024 at a clearance price of Rs 360 (~$4.34) per REC. This is an increase of 285% year-over-year (YoY) and is the highest REC volume in the current financial year.
REC prices on IEX have seen a downward trend and are currently at their lowest level this financial year. This presents an opportunity for obligated consumers like power distribution companies, open access consumers, and captive power producers to meet their renewable purchase obligat..
TVS Motor Unveils Electric Two-Wheeler
TVS Motor Company, a leading two-wheeler manufacturer in India, has unveiled its latest addition to the electric vehicle segment with the launch of the TVS iQube Electric in Bengaluru. This move marks the company's foray into the burgeoning electric vehicle market, aligning with the global shift towards sustainable mobility solutions.
The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..
Chinese EV Giant Leapmotor Eyes Indian Market
Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.
Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..
Opinion Poll
Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?
Latest updates
