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EKI Energy reports Rs 193 cr revenue, Rs 36 cr PAT in June quarter

EKI Energy reports Rs 193 cr revenue, Rs 36 cr PAT in June quarter
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Aug 20 (PTI) EKI Energy Services Ltd has reported a total revenue of Rs 193 crore in the June quarter, mainly due to increased demand as well as improved pricing of carbon credits.

The company''s total revenues stood at Rs 190 crore in 2020-21.

However, the company did not disclose the comparative June quarter figure.

The company''s PAT (profit after tax or net profit) stood at Rs 36 crore with margins of 18.5 per cent in the June quarter. For the full fiscal year 2020-21, the company''s PAT stood at Rs 19 crore, according to a company statement.

"During Q1 FY ''2022 (June quarter), we continued to build upon the strong growth momentum of the previous year and delivered another quarter of stellar performance," Chairman and Managing Director, Manish Dabkara said.

He further noted that the strong numbers were 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.

"Our major business segment, Climate Change & Sustainability Advisory and Carbon Offsetting, reported a revenue of Rs 193 crore in Q1 FY2022 (June quarter) as compared to Rs 190 crore in full year FY2021. The growth has been supported by significantly improved margin levels," he added.

The company reported an EBITDA margin of 24.7 per cent, while PAT margin also improved to 18.5 per cent.

As part of the company''s ongoing business expansion and entering into new geographies, during the quarter EKI Energy has entered into a non-binding agreement to acquire a 51 per cent stake in SustainPlus Rise, it stated.

SustainPlus Rise is a Pune-based multi-disciplinary advisory and consultancy firm specialized in climate resilience services.

The acquisition will strengthen EKI Energy''s operations with forward integration into the area of sustainability reporting for exchange listed companies.

Furthermore, as part of the efforts to reward our employees by fully aligning their interests with EKI Energy and retaining talent, during the quarter the board of directors has approved a scheme for the issuance of 6.5 Lakh shares under employee stock option plan (ESOP).

"Going forward, in line with our business expansion strategy, we will continue to identify new projects which can reduce carbon emissions, enhance biodiversity and deliver measurable benefits to the environment and society. With strong business fundamentals, innovative offerings and an increasing client base, we are confident of maintaining growth momentum and creating a value for all shareholders,” he added.

Founded in 2011, EKI Energy Services is one of the leading companies in the carbon credit industry in India with an established global footprint. PTI KKS KKS DRR

DRR


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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