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IEX's Q2FY24 Financial Performance Review

Nov 3, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of the Indian Energy Exchange (IEX) for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE:
IEX reported a total income of ₹132.97 crores inQ2FY24, which represents a 4.4% increase compared to the preceding quarter when the revenue was ₹127.36 crores. On a year-on-year (YoY) basis, the company's revenue also grew by 16.88% from ₹113.77 crores.

EXPENSES: 
Total expenses for Q2FY24 amounted to ₹22.34 crores, displaying a decrease of 20.72% compared to the expenses in the preceding quarter. On a YoY basis, expenses increased by 4.69% from ₹21.34 crores.

NET PROFIT: 
IEX reported a net profit of ₹86.46 crores, indicating a significant increase of 14.03% compared to the preceding quarter. On a YoY basis, the net profit grew by 21.43% from ₹71.20 crores in Q2FY23.

MARGINS: 
IEX's margin in Q2FY24 was 65.02%, which is an increase compared to the margin of 59.53% in the preceding quarter. On a YoY basis, the margin also increased from 62.58% in Q2FY23.

In conclusion, IEX's financial performance in the second quarter of fiscal year 2024 demonstrates remarkable growth in revenue and net profit, along with an improvement in margins. The company has capitalized on opportunities in the energy exchange market, contributing to its positive performance.

Stay tuned for more updates on upcoming financial performances.