Indian Energy Exchange (IEX) hit a day’s high of Rs 123.42, after Q1 profit rose 11.65% to Rs 134.8 crore, boosted by record power demand.

The stock opened at Rs 120.50 and was last trading around Rs 122.21, up 0.22% from the previous close of Rs 121.94, as investors digested results announced after market hours on Thursday.

Consolidated net profit for the April-June quarter came in at Rs 134.8 crore, up 11.65% from Rs 120.7 crore a year earlier. Revenue tells two stories here. The core trading business, revenue from operations, grew 11.4% to Rs 157.9 crore.

Add in other income, mostly treasury earnings, and total income touched Rs 202.8 crore, up 10.1%. EBITDA rose 13.5% to Rs 130.7 crore, with margins widening to 83% from 81.4%. A scorching summer did a lot of the heavy lifting.

Electricity traded on the exchange rose 15.9% year-on-year to 37.5 billion units, as peak power demand across the country hit an all-time high of 270.8 GW in May.

Day-ahead market prices averaged Rs 5.1 per unit, nearly 16% higher than last year. There’s a corporate move in the pipeline too.

IEX’s gas trading arm, Indian Gas Exchange (IGX), filed draft IPO papers with SEBI on 14 July, a pure offer for sale as IEX trims its 47.3% stake down to the 25% ceiling set by regulator PNGRB.

The company also floated a new subsidiary, Indian Coal Exchange, on 1 June. None of this has fully turned the stock’s year around.

IEX is still down close to 8% in 2026 and trades well below its 52-week high of Rs 193.41, weighed down by the regulatory tussle over the power regulator’s proposed market coupling framework, now before the Supreme Court.

As of 9:34 am, IEX shares were trading at Rs 122.21 on the NSE, up 0.22% on the day.

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