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hitachi

Facility will house over 2,500 technologists specialising in transformers and grid automation

Business Standard

Hitachi

Hitachi Energy India Ltd (HEIL) on Tuesday posted a 79.85 per cent jump in net profit at Rs 2.41 crore in the April-June quarter of 2023-24, on account of higher income.
It had posted a net profit of Rs 1.34 crore in the corresponding period of 2022-23, the company said in a regulatory filing.
The total income also increased to Rs 1,043 crore from Rs 991.32 crore in the year-ago quarter.
Expenses soared to Rs 1,039.62 crore in the first quarter of FY24, as against Rs 989.21 crore a year ago.
In a separate statement, company's MD and CEO N Venu said: "We remain focused on balancing our operational complexity and efficiencies to preserve the growth momentum.
"While persistent delays in chips and electronics led to lower revenue in the quarter, sustained operational excellence efforts provide visibility in the near-term."
In the quarter ending June 30, 2023, the company received orders worth Rs 1,147.5 crore, up 6 per cent year-on-year (y-o-y).
Headquartered in Switzerland, Hitachi

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Hitachi Energy's largest global tech, innovation centre comes up in Chennai

Hitachi Energy India June quarter net profit jumps 79.85% to Rs 2.41 cr