IEX down 5%, shares fall to a 52-week low
Published On: Friday, October 21, 2022 | By: Team KnowMyStock
Shares of the Indian Energy Exchange (IEX) hit a 52-week low of Rs 134 as they declined 5 percent on the BSE in Friday's intra-day trade amid heavy volumes, after reporting a decline in topline and bottom-line for the September quarter. Indian Energy Exchange (IEX) on Thursday reported nearly a 7 percent fall in its consolidated net profit at Rs 71.20 crore in the September quarter compared to a year ago. The consolidated net profit was Rs 77.38 crore in the quarter that ended on September 30, 2021, a BSE filing stated. The company's revenue fell below the Rs 100 crore mark, declining 13 percent from the same period last year to Rs 95.2 crore. Operating profit or EBITDA declined 17 percent due to weak volumes during the quarter while the margin contracted by nearly 400 basis points to 82.8 percent from 86.1 percent.
Volumes during the quarter declined 9 percent from last year to 23 billion units. On a sequential basis, volumes declined 11 percent.The company said the volumes were impacted due to supply side constraints, led by high prices of e- auction coal, imported coal and gas.
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