Hitachi Energy Q4 Results | Net profit zooms 124%, dividend of ₹4 declared – EQ
In Short : Hitachi Energy’s Q4 results show a 124% increase in net profit, and the company has declared a ₹4 dividend. This strong financial performance reflects significant growth and profitability for the company.
In Detail : In the quarter ended March 31, 2024, orders totalled ₹1,406.7 crore, up 13.9% quarter-on-quarter and 11.5% year-on-year. Shares of Hitachi Energy India Ltd ended at ₹10,894, down by ₹491.20, or 4.31% on the BSE.
Hitachi Energy India Ltd on Tuesday (May 21) reported a 123.82% year-on-year (YoY) jump in net profit at ₹113.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Hitachi Energy India posted a net profit of ₹50.8 crore, the company said in a regulatory filing.
The company’s revenue from operations increased 27.1% to ₹1,695.3 crore against ₹1,334 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA jumped 91.4% to ₹182 crore in the fourth quarter of this fiscal over ₹95.1 crore in the corresponding period of FY23. The EBITDA margin stood at 10.7% in the reporting quarter compared to 7.1% in the fourth quarter in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
In the quarter ended March 31, 2024, orders totalled ₹1,406.7 crore, up 13.9% quarter-on-quarter and 11.5% year-on-year. Industries led the charge with electrification and digitalisation of energy networks across sectors from steel to silicon.
Service and export orders were up 43% year-on-year each, maintaining their strong contribution to the overall order book. As of March 31, 2024, the order backlog stood at ₹7,229.5 crore, providing revenue visibility for the coming quarters.
Full year
For the full year ending March 31, 2024, orders were at ₹5536.3 crore up 14% (excluding high voltage direct current) from the last fiscal, while revenue stood at ₹5246.8 crore with a 17% increase during the same period.
The board has recommended a final dividend of ₹4 per equity share (200%) of face value of ₹2 each, subject to approval of the shareholders at the ensuing AGM. The dividend, if passed, will be paid after August 21, 2024.
The results came after the close of the market hours. Shares of Hitachi Energy India Ltd ended at ₹10,894, down by ₹491.20, or 4.31%, on the BSE.
