Hitachi Home surges 6% on robust Q1 earnings

The company reported over 200% jump in net profit for the June quarter

Shares of Hitachi Home & Life Solutions surged over 6% to Rs 387 after the consumer durables company late Monday reported over 200% jump in net profit for the quarter ended June 30, 2014.

The company reported a net profit of Rs 43 crore for the June quarter, up 202% compared with Rs 14 crore in the corresponding quarter ended June 30, 2013.

Net sales for the quarter under review grew 27% to Rs 596 crore compared with Rs 469 crore in the corresponding quarter last year.

The company manufactures a wide range of air-conditioners, washing machines and refrigerators.

The stock opened at Rs 407 and touched an intra-day high of Rs 414 so far. Over 825,000 shares were traded on both the stock exchanges so far.