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Quote on Indian Energy Exchange -1QFY22 Result Update By Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on Indian Energy Exchange -1QFY22 Result Update by Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd
For 1QFY22, Indian Energy Exchange Ltd (IEX)’s top-line grew by ~34% to ~Rs91cr due to healthy trade volume on exchange. On the operating profit front, the company has reported ~Rs75cr, grew by ~56% on account of a lower base last year in the same quarter. The company reported margin improvement (up by 1,133bp YoY to 78.2%), primarily on account of lower expenditure. The reported net profit de-grew by ~48% YoY to Rs62cr due to strong sales and better operating performance. Overall 1Q results were in line with expectation.Hence we are positive on stock.
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