Hitachi Energy India reported a significant increase in its net profit to Rs 23 crore for the quarter ended December 31, 2023, representing a 400% YoY growth on a low base. The company’s revenues also saw an uptick, reaching Rs 1,276.4 crore in the same quarter, compared to Rs 1,041 crore in the corresponding period a year ago. The growth was attributed to strong order execution and overcoming supply chain challenges. The company received orders worth Rs 1,235 crore during the quarter, with digitalization orders from sectors like steel and increased service orders contributing to the positive performance. The order backlog as of December 31, 2023, stood at Rs 7,552.3 crore, ensuring revenue visibility for the upcoming quarters.
Hitachi Energy India Q3 Net Profit Jumps to Rs 23 CroreHitachi Energy India posts multi-fold rise in Q3 net profit at Rs 23 crore
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