Business News | EKI Energy Services Posts Rs 191 Crore Revenue in FY21

New Delhi [India], June 19 (ANI): Leading player in the carbon credit industry EKI Energy Services has reported revenue from operations of Rs 191 crore in FY21, up 189 per cent year-on-year against Rs 66 crore.

The profit after tax went up 314 per cent to Rs 18.7 crore from Rs 4.51 crore in FY20. Earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled Rs 25.33 crore in FY21, up 312 per cent y-o-y.

The EBITDA margins expanded by 4 per cent to 13.3 per cent due to increase in project advisory fees along with carbon offset transactions. The company's cash flow from operations were Rs 15.68 crore in FY21.

This is the maiden result announcement by EKI Energy Services post its listing on BSE SME platform on April 7. Unlike other companies, corporate listed on SME Platform are mandated to announce results only twice -- half yearly and annually.

The company said it has expanded operations in Argentina, Brazil, Canada, Ghana, Kenya, Mexico, South Africa, Turkey and Vietnam.

With growing demand for climate control solutions, increasing awareness for carbon emissions reduction and various environment protection policies, the demand for global climate control services is expected to increase significantly, said Chairman and Managing Director Manish Dabkara.

"With innovative business solutions and strong fundamentals, EKI Energy is confident in maintaining growth momentum and creating value for its shareholders," he said in a statement.

The company delivers client services in the areas of climate change advisory, carbon credits offsetting, ISO consultancy and electrical safety audits. It offers services to both governments and private sector industries like power generation, waste management and airports. (ANI)

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