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EKI Energy Services net profit jumps to Rs 383 crore in FY22 – EQ Mag Pro

EKI Energy Services net profit jumps to Rs 383 crore in FY22 – EQ Mag Pro

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EKI Energy Service on Tuesday posted a multi-fold leap in standalone net profit at Rs 383.36 crore in 2021-22 monetary 12 months, primarily on the again of upper revenues. The standalone net profit of the corporate was at Rs 18.69 crore in the fiscal ended March 2021.

In the final fiscal, whole standalone earnings rose to Rs 1,801.31 crore from Rs 191.01 crore in the year-ago interval.

The firm reported a consolidated net profit of Rs 383.17 crore for the interval below assessment however the comparative determine was not obtainable.

The board of administrators has permitted issuance of bonus shares in addition to migration of the corporate from the SME phase to important board at BSE.

The issuance of bonus shares might be in the ratio of three:1 (3 shares for each 1 share held in the corporate).

The firm will concern 2,06,22,000 bonus shares for a complete quantity of Rs 20,62,20,000 (roughly). The bonus shares might be credited or dispatched on or earlier than July 12, 2022.

The board additionally permitted rising the corporate’s authorised share capital to Rs 30 crore from Rs 8 crore.

Besides, it has cleared extra subscription of shares of GHG Reduction Technologies Private Ltd (GRTPL).

The firm holds 49.9 per cent stake in GRTPL. It would make investments extra 4,99,000 fairness shares in GRTPL, which can increase its shareholding to 59.88 per cent.

“The company is also committed to become net-zero by the year 2030 and also defined a target to mobilise up to 1 billion credits within the next 5 years (by 2027),” Manish Dabkara, CMD and CEO of stated.

EKI Energy Services Ltd. is a carbon credit score developer and provider throughout the globe.

Source: PTI

Anand Gupta Editor - EQ Int'l Media Network