EKI Energy Services Bounces Back with Profit in June Quarter

EKI Energy Services reported a net profit of Rs 3.77 lakh for the June quarter, a significant improvement from its Rs 29.10 crore loss during the same period last year. The company's income rose substantially to Rs 181.36 crore, driven by new ventures in power trading that generated Rs 136.20 crore.

EKI Energy Services reported a net profit of Rs 3.77 lakh for the June quarter, showing a remarkable recovery from a net loss of Rs 29.10 crore during the same period last year.

The company’s total income surged to Rs 181.36 crore from Rs 85.64 crore a year ago, as revealed in an exchange filing on Tuesday. This dramatic increase was fueled by the company's new venture into power trading, which generated Rs 136.20 crore in revenue during the June quarter.

Despite a rise in expenses to Rs 181.37 crore, compared to Rs 114.73 crore a year earlier, EKI Energy Services, a leading player in the carbon credits market, showed resilience and growth. Carbon credits, earned by entities through decarbonisation efforts, represent a burgeoning global market.