ECONOMY

IEX Q1 Review – Sturdy Performance: ICICI Direct

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.

Indian Energy Exchange Ltd. is the premier electricity exchange in India, which facilitates trading of electricity. The company commands a market share of ~95% in the power exchange market.

IEX reported robust Q1 FY22 results.

Revenue for the quarter came in at Rs 91 crore (our estimate of Rs 87.3 crore), up 31% y-o-y, down 3% q-o-q.

On a y-o-y basis, total volumes leaped 43.6%, a major contributor to the jump being real-time market segment that contributed 524 million units in Q1 FY21 versus 4635 million units in Q1 FY22.

Sequentially, volumes registered a fall of 5%.

The company saw strong volumes in April and June whereas May witnessed a slight dip led by the second wave.

Click on the attachment to read the full report:

ICICI Direct IEX Q1FY22 Result Update.pdf

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