EKI Energy Service on Tuesday posted a multi-fold jump in standalone net profit at Rs 383.36 crore in 2021-22 financial year, mainly on the back of higher revenues.

The standalone net profit of the company was at Rs 18.69 crore in the fiscal ended March 2021.

In the last fiscal, total standalone income rose to Rs 1,801.31 crore from Rs 191.01 crore in the year-ago period.

The company reported a consolidated net profit of Rs 383.17 crore for the period under review but the comparative figure was not available.

The board of directors has approved issuance of bonus shares as well as migration of the company from the SME segment to main board at BSE.

The issuance of bonus shares will be in the ratio of 3:1 (3 shares for every 1 share held in the company).

The company will issue 2,06,22,000 bonus shares for a total amount of Rs 20,62,20,000 (approximately). The bonus shares will be credited or dispatched on or before July 12, 2022.

The board also approved increasing the company’s authorised share capital to Rs 30 crore from Rs 8 crore.

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

The company holds 49.9 per cent stake in GRTPL. It would invest additional 4,99,000 equity shares in GRTPL, which will raise 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 EKI Energy Services said.

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

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