New Delhi, Apr 27 (PTI) Indian Energy Exchange on Wednesday posted a rise of over 45 per cent in its consolidated net profit at Rs 88.40 crore in the quarter ended March 2022, compared to the year-ago period, mainly on the back of higher revenues.

The consolidated net profit of the company was Rs 60.85 crore in the quarter ended on March 31, 2021, Indian Energy Exchange (IEX) said in an exchange filing.

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The total income of the company rose to Rs 128.44 crore in the quarter under review from Rs 100.33 crore in same period a year ago.

During the entire financial year 2021-22, the company's consolidated net profit rose to Rs 308.63 crore from Rs 205.43 crore in FY21.

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It's total income in FY22 rose to Rs 484.40 crore from Rs 356.23 crore in the preceding fiscal.

In its meeting on Wednesday, the board of directors has recommended a final dividend of Re 1 per equity share for the financial year ended March 31, 2022.

The dividend will be paid within 30 days from the date of shareholders' approval at the ensuing annual general meeting.

The board has appointed Rajeev Gupta as an additional director designated as a non-executive independent director of the company with effect from April 27, 2022.

Gupta founded Arpwood Financial Group in 2012 with businesses in merger and acquisitions, investment banking and private equity buyouts. Previously, he was a partner of the Carlyle Group and head of its India buyout team from 2005 to 2010, besides working as joint managing director of DSP Merrill Lynch (from 1995 to 2005).

Prior to his stint with DSP Merrill Lynch, Gupta held leadership positions in a number of industrial companies. An MBA from IIM Ahmedabad and BTech from IIT BHU, Gupta has 39 years' of work experience with 10 years in senior management roles in industrial businesses and 29 years in financial services.

He is an independent non-executive board member of United Spirits Ltd, EIH Ltd, TV Today Network Ltd, Vardhman Special Steels Ltd, Rane Holdings Ltd, TVS Capital Funds Ltd and SBFC Ltd. He is also a member of the advisory board of Bain & Co India Ltd.

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