The Power Ministry has reportedly issued a directive to the Central Electricity Regulatory Commission (CERC) to kickstart the process of market coupling. This process involves the establishment of a unified power trading entity owned by the government, where price discovery will occur and power will be dispatched to short-term power trading platforms.

While this move may have far-reaching implications for the power trading industry, it is likely to have a particularly significant impact on IEX, which is currently the market leader in terms of power trading volumes. The proposed changes could potentially erode IEX's competitive edge by reducing its trading volumes.

IEX is India's premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

On consolidated basis, the company's net profit was flat at Rs 88.34 crore in Q4 FY23 as compared with Rs 88.36 crore in Q4 FY22. Revenue from operations declined 4.5% year on year to Rs 107.03 crore in Q4 FY23.