IEX net profit surges 27% in Q1, Investec remains bullish

On the power sector front, hot weather conditions led to an unprecedented surge in electricity demand during the first quarter of this financial year. Peak power demand reached 250 GW, surpassing the previous high of 243 GW recorded in September last year.

"The country's energy consumption of 452 BUs in Q1FY25 was 11.2 percent higher compared with the same quarter last fiscal," said IEX.

Foreign brokerage Investec maintained its buy call on the energy exchange, with a target price of Rs 175 per share. The brokerage noted that the higher opex was partly offset by higher other income.

The volume growth was healthy, while the topline growth was in-line with Investec's estimates. Key areas to watch include commentary on higher other expenses and updates on product launches.

IEX shares have gained around 41 percent over the last year, outperforming the frontline Nifty 50 index. In the last session, IEX shares gained 3.84 percent to close at Rs 174.7 per share.

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