IEX share buyback decision to be taken in board meet today

Indian Energy Exchange’s (IEX) board of administrators is scheduled to meet today i.e., on Friday to think about the proposal for buyback of fairness shares of the corporate. IEX shares are down greater than 43% in 2022 (YTD) to this point.

“A gathering of the Board of Directors of the Company is scheduled to be held on Friday, November 25, 2022, inter-alia, to think about a proposal for buyback of absolutely paid-up fairness shares of the Company,” the power change had knowledgeable in an change submitting earlier this month.

A share buyback, often known as share repurchase, is a company motion to purchase again its personal excellent shares from its current shareholders normally at a premium to the prevailing market worth. It can be another tax-efficient manner to return cash to shareholders. Share buybacks scale back the variety of shares in circulation, which might improve the share worth and the earnings per share (EPS).

Indian Energy Exchange is the premier electrical energy change in India, which facilitates buying and selling of electrical energy and instructions a market share of 85-90% in the ability change market.

IEX reported practically 7% fall in its consolidated internet revenue at 71 crore in September quarter, in contrast to a 12 months in the past from 77.38 crore in the quarter ended on September 30, 2021. Total earnings declined to 113.7 crore in the quarter below evaluate, as in contrast to 122 crore in the identical interval a 12 months in the past.

Meanwhile, the entire commerce quantity of the power change dipped over 11% to 23.1 billion items in the July-September quarter, in contrast to the year-ago interval, due to supply-side constraints. The complete commerce quantity of IEX was 26 billion items (BU) in July-September 2021.

During the quarter, the volumes declined by 11% YoY (year-on-year), as in contrast to Q2 FY22, impacted due to supply-side constraints, led by excessive costs of e-auction coal, imported coal and gasoline.

“Going forward, easing supply-side constraints and decrease demand in the approaching winter season, a rise in liquidity on the change platform main to discount in costs is probably going, which is able to present alternative to discoms to optimize their energy procurement and industrial and industrial customers to purchase cheaper energy,” the company stated.


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