IEX shares jump 5% on robust Q2 results

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IEX, IEX shares, IEX share price, IEX stock, IEX news, IEX results

NEW DELHI: Shares of Indian Energy Exchange (

IEX

) jumped 5.5 per cent on Friday as the power bourse reported an almost 75 per cent on-year rise in consolidated net profit to Rs 77.38 crore in July-September.

At 09:35 hours (IST), the company’s share price was at Rs 799.45 on the National Stock Exchange, registering a gain of 5.48 per cent.

The robust performance in the second quarter was chiefly on the back of higher revenues. In the second quarter of the previous financial year, Indian Energy Exchange had posted a consolidated net profit of Rs 44.33 crore.

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Earlier in the week, shares of the company had surged almost 20 per cent to hit record highs as it announced that its board will consider a maiden bonus issue proposal at a meeting on Thursday.

Subsequently, the company’s board recommended bonus issue of equity shares in a ratio of 2:1, depending on approval of shareholders, to be sent through postal ballot. The record date for the issue is yet to be announced.

Over the past month, Indian Energy Exchange’s share price has risen close to 65 per cent.

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