Hitachi Home and Life Solutions Q4 net down 44% at Rs 13.36 cr

Airconditioner firm Hitachi Home and Life Solutions today reported a 44.44 per cent decline in standalone net profit at Rs 13.36 crore for the fourth quarter ended March 31, 2016.
The company had registered a net profit of Rs 24.05 crore in January-March period a year-ago, Bajaj Electricals said in a BSE filing.
Its total income from operation was down 15.86 per cent to Rs 416.03 crore as against Rs 494.49 crore in the same quarter of previous fiscal, it added.
For the entire 2015-16 fiscal, Hitachi Home and Life Solutions' standalone net profit was down 35.73 per cent to 49.97 crore as against a net profit of Rs 77.76 crore in the previous fiscal.

Its total income from operation was up 5.51 per cent to Rs 1,659.53 crore in 2015-16 as against Rs 1,572.84 crore in the preceding year.
Meanwhile, in a separate filing Hitachi Home and Life Solutions informed BSE that Shinichi lizuka has resigned as Chairman as well as Director of the company with effect from May 30, 2016 and Franz Cerwinka has been appointed in his place.

"Franz Cerwinka has been appointed as a Chairman as well as a Director of the company with effect from May 30, 2016." Hitachi Home and Life Solutions said.
The board of the company in a meeting held today has recommended a dividend of Rs 1.50 per equity share of Rs 10 each.

Its share today settled 3.29 per cent higher at Rs 1,400.25 on BSE.