This company's quarterly net profit soared 200 per cent; Rs 1 lakh invested in it 17 months ago would now be over Rs 50 lakh!
This quarter witnessed the completion of company's transition from BSE SME Platform to BSE Main Board.
A global leader in the creation & distribution of carbon credits, EKI Energy Services Ltd (EKI), recently released its financial results for the first quarter ended on June 30, 2022.
Taking into account the company's financial performance, it registered a growth of 162.8 per cent from Rs 193.34 crore registered in Q1FY22, recording total revenue of Rs 508.12 crore in Q1FY23. It has reported strong EBITDA growth of 199.1 per cent. Comparing the net profit for the first quarter of FY23 to the same quarter last year, it increased significantly by 199.7 per cent from Rs 35.70 crore to Rs 106.98 crore.
The company raised Rs 18 crore through an initial public offering (IPO). Almost 17 months later, the company's quarterly net profit is more than Rs 100 crore. An investment of Rs 1 lakh in this stock 17 months ago, would now be more than Rs 50 lakh!
This quarter witnessed the completion of EKI's transition from BSE SME Platform to BSE Main Board. The company successfully issued bonus shares in the ratio of 1:3 (three shares for every one share held). In addition to defining a goal to mobilise up to one billion credits over the course of the next five years, EKI had earlier this year also made an announcement about its commitment to becoming net-zero by 2030.
Keep an eye on this stock in the light of environmental concerns and the company's rapid growth.