Shares of EKI Energy gained five percent, reaching a 52-week high of Rs 18.14 on Friday, August 20, after the climate sustainability company released its April-June quarterly results for fiscal year 2021-22. EKI Energy reported total revenue of Rs 193 crore in the first quarter of the current fiscal year, mainly driven by higher demand and improved carbon credit pricing.
The company’s net profit in the June quarter was Rs 36 crore, with margins of 18.5%, while its profit for the fiscal year 2020-21 was Rs 19 crore, according to a regulatory filing by the company with the stock exchanges.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) of Rs 48 crore in the June quarter, while margins rose to 24.7 percent.
“During the first quarter of FY2022, we built on the strong growth momentum of the previous year and delivered another quarter of excellent performance. These strong numbers are driven by increased 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, EKI Chairman and Chief Executive Officer. energy.
EKI Energy has entered into a non-binding agreement to acquire a 51 percent stake in Pune-based multidisciplinary consulting and advisory firm SustainPlus Rise, which specializes in climate resilience services, said Mr Dabkara.
On Friday, August 20, shares of EKI Energy rose five percent higher at Rs 1,814 on the BSE.