EKI Energy Services Limited (EKI Energy) on Friday reported a four-fold jump in its net profit at Rs 18.70 crore during 2020-21, mainly on the back of higher revenues.
EKI Energy, had reported a net profit of Rs 4.51 crore during 2019-20, a company statement said.
Amid the ever increasing global awareness of the impact of carbon emissions coupled with initiatives to reduce all greenhouse gas emissions, the company reported robust performance across all business verticals, the company said adding that its total revenue for fiscal 2020-21 stood at Rs 191.01 crore, as against Rs 65.98 crore in the year-ago period.
"In line with global carbon credit markets, EKI Energy reported a stellar performance across all business segments during the year. The Company reported a revenue growth of 189 per cent while EBITDA increased by over four times to Rs 25 crore," Chairman and Managing Director, Manish Dabkara said.
Dabkara further said "EBITDA margins have continuously improved over time and during the year expanded by 4 per cent to 13.3 per cent. With effective working capital management and strong business fundamentals, the Company has maintained a net cash positive balance sheet." Founded in 2011, EKI Energy Services Limited (EKI Energy) is one of the leading companies in the carbon credit industry in India with an established global footprint.
EKI Energy delivers client services in the areas of climate change advisory, carbon credits offsetting, ISO consultancy and electrical safety audits. The Company offers services to both governments and private sector industries such as power generation, waste management and airports.
EKI Energy shares were listed on the BSE SME Platform on April 7, 2021.