PXIL powers back into the black
Power Exchange India (PXIL), the electricity trading platform promoted by the National Stock Exchange and the National Commodity and Derivatives Exchange, has turned the corner, registering a profit of almost Rs 1 crore a month.
Stepping back strongly from the brink, the exchange has been able to successfully rollout its revival strategy under Prabhajit Kumar Sarkar, Managing Director and CEO.
In 2017, both NSE and NCDEX at an extraordinary general meeting (EGM), voted to shut down the then-loss-making PXIL. NSE-NCDEX collectively own 61 per cent stake in the exchange.
However, making a complete turnaround, PXIL registered a net profit of Rs 8 crore for the financial year ended March, 2019 against a loss of Rs 2 crore logged in the previous year.
