Hitachi Energy India Soars with 111% Profit Spike in September Quarter

Hitachi Energy India reported a striking 111% increase in net profit for the September quarter, achieving Rs 52.3 crore, driven by heightened revenues and successful order execution. The company's revenues increased to Rs 1,553.8 crore, with a notable growth in order intake from renewable projects and upgrades.

Hitachi Energy India showcased an impressive financial performance in the September quarter, recording a remarkable 111% boost in net profit, rising to Rs 52.3 crore. This substantial increase was primarily fueled by enhanced revenues and effective order execution.

The company's revenue for the July-September 2024 quarter reached Rs 1,553.8 crore, representing a 26.5% surge compared to the Rs 1,228.2 crore from the previous year. This growth was largely attributed to a favorable business mix and strong completion of orders.

Increased orders, particularly from renewable initiatives and power plant upgrades, were instrumental in achieving this milestone. Orders for the quarter totaled Rs 1,952 crore, marking an 11.7% year-on-year rise. Export orders held a 22% share, predominantly from high-voltage projects destined for Europe and Africa.

(With inputs from agencies.)