BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Indian Energy Exchange Ltd. reported robust Q4 FY21 numbers that were a beat on our estimates on all parameters.
Strong power demand led by a swift recovery in the economy aided volumes, which came in at 22,451 million units in Q4 FY21, up 62.3% YoY and 11.3% QoQ.
Further, balance sheet continues to remain top notch aided by strong liquidity and debt free position.
Revenue for the quarter came in at Rs 93.8 crore, up 35.1% YoY and 10.1% QoQ (versus our estimate of Rs 89.8 crore).
The gas exchange, which is still at a very nascent stage, registered an Ebit loss of Rs 3.86 crore versus a loss of Rs 1.5 crore during previous year.
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