IEX Q4 Review - Robust Performance, Volumes To Grow In Double Digit in Medium Term: ICICI Direct
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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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