Hitachi Energy India's Record-Breaking Profits and Orders in Dec 2024

Hitachi Energy India Limited reported a substantial increase in profits for the December 2024 quarter, driven by higher revenues and significant orders including a large HVDC project. The company achieved its highest-ever order backlog, benefitting from export growth and increased focus on sustainable energy.

In a significant development, Hitachi Energy India Limited announced a remarkable increase in profit after tax, reaching Rs 137.4 crore for the December 2024 quarter. This leap from Rs 23 crore in the same period of the previous fiscal year can be attributed to a remarkable revenue surge.

The company's revenue climbed 31 percent to Rs 1,672.4 crore, supported by the securing of its largest-ever quarterly order of Rs 11,594.3 crore, notably including a pivotal high-voltage direct current (HVDC) order to channel renewable energy from Khavda, Gujarat to Nagpur, Maharashtra.

Notably, by the end of December 31, 2024, Hitachi Energy India recorded an unprecedented order backlog of Rs 18,994.4 crore, ensuring substantial revenue prospects in upcoming quarters. The export share soared over 40 percent in Q3 FY25, thanks to power quality and renewable orders from global markets including Australia, Indonesia, Canada, and more. Service segment orders constituted 11 percent, excluding HVDC.

(With inputs from agencies.)