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Informist, Wednesday, Jul. 22, 2026

By Vidhi Thacker

MUMBAI – The Indian Energy Exchange Ltd. is expected to report a high single digit on-year growth in net profit and a double-digit growth in revenue for the June quarter on the back of higher volumes and prices spurred by strong demand for electricity, according to brokerages tracking the company. Demand for electricity was high due to a prolonged summer, which included high temperatures and heatwaves, and a delayed monsoon.

The power exchange is expected to report a net profit of INR 1.2 billion for the June quarter, up almost 8% on year and down 1.6% sequentially, according to the average of estimates from five brokerages. The highest estimate for the company's net profit is INR 1.31 billion from Elara Securities (India) Pvt. Ltd. and the lowest is INR 1.11 billion from JM Financial Institutional Securities Pvt. Ltd.

The company's revenue is expected to grow almost 11 % on year to INR 1.55 billion for the quarter, which is down 10% sequentially, according to the average of estimates. The highest estimate for the company's revenue is INR 1.67 billion from Elara Securities and the lowest is INR 1.49 billion from JM Financial.

Indian Energy's total traded volumes grew 3% on year in the June quarter, which will support the company's revenue growth. The exchange traded 13.34 billion units of electricity in the day-ahead market for the June quarter, up nearly 8% on year. Volumes in the real-time electricity market were up 23.5% on year at 16.02 billion units. The green market volume, however, was down 1.2% on year for the quarter.

Extreme heat conditions pushed energy demand to a record high of 270 gigawatts in the June quarter, indicating strong residential use. India's energy consumption reached 485.4 billion units for the June quarter, up 9% on year. In June alone, energy consumption rose 12% on year to 166.5 billion units due to heatwaves and the late onset of the monsoon.

A total of 977,000 renewable energy certificates were traded on the exchange in the June quarter, down over 81% on year, which will weigh on the company's revenue growth. Sell bids on the exchange declined by 86% on year, leading to a rise in clearing prices during the quarter. Indian Energy's average market clearing price in the day-ahead market was INR 5.1 per unit for the June quarter, up around 16% on year. The average real-

time market clearing price was INR 4.5 per unit, up almost 14% on year.

Indian Energy's earnings before interest, taxes, depreciation, and amortisation are expected at INR 1.3 billion for the June quarter, down around 22% from INR 1.6 billion in the year-ago quarter, according to the average of estimates. The highest estimate for the company's EBITDA is INR 1.4 billion by Elara Securities and the lowest is INR 1.2 billion by JM Financial. Indian Energy Exchange is an exchange for trading electricity, renewable energy, and renewable energy certificates.

Of the four brokerage reports on the company available with Informist, one has a "buy" recommendation, two have a "hold" recommendation, and one has a "sell" recommendation on the stock. The average target price for the "hold" recommendations is INR 138, which is around 10% higher than the closing price Tuesday. 

Wednesday, shares of Indian Energy Exchange ended at INR 123.48 on the National Stock Exchange, down almost 1%. The company will announce its June quarter earnings Thursday. The stock is largely unchanged since the company reported its March quarter earnings on Apr. 23.

Following are the Apr-Jun earnings estimates for Indian Energy Exchange from five brokerage firms in a descending order by estimate of net profit, in INR million:
 

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Pankaj Aher

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