EKI Energy Services falls 5% on Q4 net loss at ₹29.11 crore

The firm reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of ₹35.02 crore during the fourth quarter compared to an EBITDA loss of ₹60.11 crore in the same period of the previous fiscal.

For the fiscal year 2024, the company reported a net loss of ₹129.20 crore compared to a profit of ₹119.65 crore in the previous fiscal. The consolidated revenue of the company declined 79.52% YoY at ₹263.39 crore.

The firm said its subsidiary GHG Reduction Technologies has begun production and supply of biomass briquettes. Similarly, another subsidiary EKI Power Trading has executed a few contracts which will be reflected in the financial performance from Q1FY25, it said.

Manish Dabkara, chairman and managing director of EKI Energy Services said in FY24, the firm demonstrated resilience against head-winds, expanding its client base globally and venturing into new areas through innovative partnerships. “Our collaborations with industry leaders like IOCL and Jospong allowed us to broaden our scope in global carbon asset management,” he said.

Shares of EKI Energy Services have declined nearly 26% since the start of the year. In the past year, the shares have fallen by 27%