India Power Q1 Preview - Resilience Benefits The Sector: ICICI Securities
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ICICI Securities Report
Despite the two-month (May-June 2021) lockdown due to Covid-19 second wave, power sector was resilient and fared well in Q1 FY22.
Although due to lower base in Q1 FY21, power demand was up 17% YoY, it was 2.5% lower versus Q1 FY20 due to the lockdown impact.
However, once the states started to relax lockdowns and allowed economic activities to normalise, there was a significant jump in demand, which crossed its all-time highs several times June-21-end onwards.
Peak all-India demand reached an all-time high of 200.6 gigawatt on July 07, 2021.
Due to significant growth in demand, both volumes and prices at exchange increased.
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