Hitachi Energy India Reports 124% Surge in Q4 Profit

22 May 2024 CW Team

Hitachi Energy India Limited announced a remarkable 124% year-over-year increase in its Profit After Tax (PAT) for the fourth quarter of FY24, reaching ?1137 million compared to ?508 million in the same period last year. This substantial growth was accompanied by a total order intake of ?14.06 billion, reflecting a quarter-over-quarter rise of 13.9% and an 11.5% increase year-over-year.

The company's revenue for the quarter ending March 31, 2024, stood at ?16.99 billion, up by 33.1% from the previous quarter and 27.2% year-over-year. Operational EBITDA for the period was ?1726 million, with an EBITDA margin of 10.2%.

For the entire fiscal year, Hitachi Energy's order intake reached ?5536.3 crore, a 14% rise excluding a major High Voltage Direct Current (HVDC) order from FY23. Annual revenue amounted to ?5246.8 billion, marking a 17% increase from the previous fiscal year.

In alignment with its 'Sustainability 2030' strategy, the company reported an 88% reduction in carbon emissions. The board recommended a final dividend of ?4 per share, pending shareholder approval at the annual general meeting.

N Venu, MD & CEO of Hitachi Energy India Ltd., credited the company's strong revenue performance to a favorable external environment and emphasized ongoing investments in renewable energy, transmission infrastructure, and electrification of transport. Hitachi Energy is strategically focusing on growth areas such as renewable energy projects, HVDC, data centers, and transport sectors to leverage expanding opportunities in India's energy sector and support the nation's energy transition.

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