Indian Energy Exchange Ltd's Q1FY19 standalone net profit rises 33.5% yoy to Rs42cr

The company’s standalone revenue in the quarter stood at Rs67cr, up 22.5% yoy and 21.4% qoq.

Aug 09, 2018 04:08 IST India Infoline Research Team

Indian Energy Exchange Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 67 22.5
EBITDA 54.5 28.9
EBITDA Margin (%) 81.3 406
Net Profit (adjusted) 42 33.5
***EBITDA margin change is bps

Indian Energy Exchange Ltd (IEX) reported steady revenue and earnings growth for Q1FY19. Revenue in the quarter grew 22.5% yoy to Rs67cr. EBITDA stood at Rs54.5cr, up 28.9% yoy. EBIDTA margin rose 406bps yoy to 81.3%. Net profit stood at Rs42cr for Q1FY19, up 33.5% yoy.
  • Total volumes for the day-ahead and term-ahead market grew 22% yoy for the quarter to 14,431mn units.
  • Renewable Energy Certificates (REC) reported a 343% yoy increase for the quarter to 20.1 lakh. This was due to a resumption of trading in solar REC on April 25.
  • Average Market Clearing Price for the quarter stood at Rs4.13 per unit, a 50% increase yoy.
  • Congestion led to a loss of 0.56% in volumes for IEX in Q1FY19.
  • The board has recommended split of one equity share of Rs10 each into 10 equity shares of Rs1 each, pending approval from shareholders.

Technical View:

Indian Energy Exchange Ltd is currently trading at Rs1,615.05, up 23.4 points, or 1.47%, from its previous close of Rs1,591.65 on the BSE. The scrip opened at Rs1,608.95 and has touched a high and low of Rs1,625.95 and Rs1,590.10, respectively. A total of 8,027 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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