EKI Energy Gains 5%, Revenue At Rs 193 Crore In June Quarter

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Shares of EKI Energy settled five per cent higher at Rs 1,814 on the BSE.

Shares of EKI Energy gained five per cent to touch a 52-week high of Rs 18,14 on Friday, August 20, after the climate sustainability company announced its April-June quarter results for the financial year 2021-22. EKI Energy reported total revenue of Rs 193 crore in the first quarter of the current fiscal, mostly driven by higher demand and improved pricing of carbon credits.

The company’s net profit in the June quarter stood at Rs 36 crore, having margins of 18.5 per cent, while its profit for the fiscal year 2020-21 stood at Rs 19 crore, according to a regulatory filing by the company to the stock exchanges.

The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) of Rs 48 crore in the June quarter, while margins expanded to 24.7 per cent.

”During Q1 FY2022, we continued to build upon the strong growth momentum of the previous year and delivered another quarter of stellar performance. These strong numbers are driven by increasing market awareness for net zero emissions, increased demand from major markets especially from America and European countries and improved pricing of carbon credits,” said Mr. Manish Dabkara, Chairman and Managing Director, EKI Energy.

EKI Energy entered into a non-binding agreement to acquire a 51 per cent stake in Pune-based multi-disciplinary advisory and consultancy firm- SustainPlus Rise, which specializes in climate resilience services, stated Mr Dabkara.

EKI Energy is one of the leading companies in the carbon credit industry in the country and provides services including sustainability audits, carbon neutrality, carbon footprint management, among others.

On Friday, August 20, shares of EKI Energy settled five per cent higher at Rs 1,814 on the BSE.

Author: desi123

Desi123.com is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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