Shares of Hitachi Energy India surged nearly 2% on the company’s positive fourth-quarter results. The strong financial performance was driven by a significant growth in net profit and higher revenues.
Hitachi Energy India on Tuesday posted a remarkable 123.7% increase in net profit, reaching Rs 113.7 crore in the March quarter. This impressive growth was mainly attributed to the company’s higher revenues. In the same quarter a year ago, Hitachi Energy India had reported a net profit of Rs 50.8 crore.
The company delivered strong revenues of Rs 1,699.2 crore, representing a 27.2% year-on-year increase from Rs 1,336.3 crore in the corresponding period last year.
As of 10:58 am, Hitachi Energy India’s shares were trading 1.54% higher at Rs 10,999.40 on the National Stock Exchange (NSE).
