Hitachi Energy India Reports Four-Fold Jump in Quarterly Profit

Hitachi Energy India reported a significant increase in net profit for June quarter FY25, reaching Rs 10.4 crore. This growth is attributed to higher revenues and robust order intake, driven by investments in renewable energy and power sector upgrades. The company remains optimistic about ongoing market support and future growth.

Hitachi Energy India has reported a remarkable four-fold increase in net profit for the June quarter of FY25, amounting to Rs 10.4 crore. This surge is primarily due to higher revenues, with the company registering Rs 1,327.3 crore, up from Rs 1,043 crore in the same period last year.

Managing Director and CEO N Venu attributed the growth to the accelerating energy transition and continued investments in renewable energy. 'As the energy transition gathers pace, investments in the power sector—especially renewables—continued to grow,' Venu stated.

In the June quarter, Hitachi Energy India saw orders totaling Rs 2,436.7 crore, more than double compared to the previous year. The company also noted a significant increase in exports and emphasized strong execution and cost management. The order backlog as of June 30, 2024, stood at a record Rs 8,539.4 crore, ensuring revenue visibility for the coming quarters.