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

Shares of EKI Energy gained 5 per cent to the touch a 52-week excessive of Rs 18,14 on Friday, August 20, after the local weather sustainability firm introduced its April-June quarter outcomes for the monetary 12 months 2021-22. EKI Energy reported complete income of Rs 193 crore within the first quarter of the present fiscal, principally pushed by greater demand and improved pricing of carbon credit.

The firm's web revenue within the June quarter stood at Rs 36 crore, having margins of 18.5 per cent, whereas its revenue for the fiscal 12 months 2020-21 stood at Rs 19 crore, in keeping with a regulatory submitting by the corporate to the inventory exchanges.

''During Q1 FY2023, we continued to construct upon the robust progress momentum of the earlier 12 months and delivered one other quarter of stellar efficiency. These robust numbers are pushed by rising market consciousness for web zero emissions, elevated demand from main markets particularly from America and European international locations and improved pricing of carbon credit,'' stated Mr. Manish Dabkara, Chairman and Managing Director, EKI Energy.

As a part of our ongoing enterprise growth and coming into into new geographies, in the course of the quarter

EKI Energy entered right into a non-binding settlement to accumulate a 51 per cent stake in Pune-based multi-disciplinary advisory and consultancy firm- SustainPlus Rise, which specializes in local weather resilience companies, acknowledged Mr Dabkara.

On Friday, August 20, shares of EKI Energy settled 5 per cent greater at Rs 1,814 on the BSE.