Indian Energy Exchange (IEX) delivered robust fourth quarter FY26 results with consolidated net profit growing 11% year-on-year to ₹130 crore and revenue increasing 13% YoY to ₹196 crore. According to the company's earnings filing, the performance was driven by record electricity trading volumes, with quarterly traded electricity volume reaching 39.4 BU, marking a 24.3% jump from the same period last year. Additionally, 71.71 lakh RECs traded during the quarter, recording a 6.1% growth, demonstrating strong market activity across both electricity and renewable energy certificates. The company reported its highest-ever traded electricity volumes for both Q4 and FY26, as per the earnings filing.
The company's revenue from operations for the quarter grew 22.53% YoY to ₹174.30 crore, up from ₹142.24 crore in the corresponding period last year. As reported by Business Today, this represents a significant improvement in the company's operational revenue generation. On the cost front, total expenses increased 12.81% to ₹39.36 crore in Q4 FY26, as against ₹34.89 crore in the year-ago period, reflecting the company's continued investment in business expansion and operational efficiency.
For the entire financial year 2026, IEX achieved double-digit growth across key metrics with consolidated revenue growing 13.6% YoY to ₹747 crore and PAT increasing 14.9% YoY to ₹492.9 crore. As reported by the company's earnings filing, the company recorded electricity traded volume of 141.1 BU for FY26, up 17% YoY, while REC volumes hit an all-time high of 187.2 lakh, rising 5% YoY. The enhanced wind, hydro, solar generation along with sustained supply from coal-based generation resulted in higher supply liquidity on the exchange platform, leading to substantial decline in DAM and RTM prices. During FY26, ICX issued 179 lakh I-RECs, recording a growth of over 200% compared to FY25, while ICX reported revenue of ₹7.7 crore in FY26, as against ₹3.4 crore in FY25, marking a 126% YoY growth.
Despite recent declines, IEX shares have gained over 6% in one month and are up over 6% in one year, though they have dropped over 33% in one year and around 17% in three years. As reported by Business Today, IEX shares closed 0.87% higher at ₹126.90 on BSE following the earnings announcement made after market hours. Along with the Q4 results, IEX's board announced a final dividend of ₹2 per equity share for FY26, with Friday, May 15, 2026, set as the record date to determine shareholder eligibility. According to the company's regulatory filing, if approved by shareholders, the dividend will be paid within 30 days from the date of approval. However, IEX shares have declined more than 6% in one week and around 5% in 2026 due to concerns over the Central Electricity Regulatory Commission's draft framework for market coupling regulations, which named Grid India as the market coupling operator.
