EKI Energy Services posts Rs 4.22 crore net profit in Sep qtr

New Delhi, Oct 25 (PTI) EKI Energy Services on Friday reported a net profit of Rs 4.22 crore during the September quarter, on account of a surge in income.

It had posted a loss of Rs 43.47 crore in the July-September period of preceding 2023-24 fiscal, the company said in an exchange filing.

The company's total income jumped to Rs 149.09 crore from Rs 79.79 crore in the year-ago quarter.

During the quarter under period, its expenses too rose to Rs 144 crore from Rs 123.19 crore in the second quarter of FY24.

In a separate statement, its Chairman Manish Dabkara said, "Despite volatility in the carbon markets and unpredictable policy updates, we are strategically positioned to weather the turbulence." "Our focus on financial prudence, innovation, and strategic partnerships ensures that we remain on track to achieve our long-term vision of a low-carbon, climate-resilient future," he added.

On the outlook for the sector, the company's chairman said that EKI remains confident that demand for high-quality carbon credits will continue to grow, supported by increasing global commitments to carbon neutrality and stricter emissions reduction targets.

EKI Energy Services is a leading carbon credit developer and supplier across the globe. PTI ABI KKS ABI SHW