EKI Energy Services Reduces Losses with Cost-Cutting Measures
EKI Energy Services, a carbon credit developer and supplier, reported a decrease in consolidated losses to Rs 6.63 crore in the March quarter, mainly due to reduced expenses. Previously, their net loss was Rs 29.10 crore during the same period of the prior fiscal year.
- Country:
- India
EKI Energy Services, a leading carbon credit developer, announced a significant reduction in its consolidated losses for the March quarter, now standing at Rs 6.63 crore. This marks a substantial improvement compared to the Rs 29.10 crore loss recorded in the same quarter of the previous fiscal year.
The company attributed this achievement primarily to a drastic reduction in expenses, which fell to Rs 29.33 crore from Rs 114.73 crore in the preceding year. Despite this cost-cutting measure, EKI's total income dropped to Rs 22.24 crore from Rs 85.64 crore year-over-year.
With these financial adjustments, EKI Energy Services showcases resilience amid challenging economic conditions, underscoring the importance of strategic fiscal management in the industry.
(With inputs from agencies.)
Google News