Hitachi Energy India Q3 Profit Soars to Rs 137.4 cr
By Rediff Money Desk, New Delhi Jan 29, 2025 18:07
Hitachi Energy India reports a significant jump in Q3 PAT to Rs 137.4 crore, driven by higher revenues and a large HVDC order. Revenue surged by 31% to Rs 1,672.4 crore.
New Delhi, Jan 29 (PTI) Hitachi Energy India Limited on Wednesday posted a manifold jump in its profit after tax (PAT) to Rs 137.4 crore for the December quarter on account of higher revenues.
Its PAT was Rs 23 crore during the October-December period of the preceding 2023-24 fiscal, the company said in a regulatory filing.
The company's revenues increased 31 per cent to Rs 1,672.4 crore from Rs 1,276.4 a year earlier.
It reported its highest-ever quarterly order of Rs 11,594.3 crore in the quarter ended December 2024.
The surge can be primarily attributed to a large high-voltage direct current (HVDC) order to transmit renewable energy from Khavda in Gujarat to Nagpur, Maharashtra, the company said.
At the close of December 31, 2024, the company recorded its highest-ever order backlog of Rs 18,994.4 crore, providing revenue visibility for the coming quarters.
Excluding the one-time large HVDC order, the share of exports grew to over 40 per cent of total orders in Q3 FY25, with power quality, substation & renewable orders from Australia, Indonesia, Canada, Croatia, and Azerbaijan, among others.
Similarly, the service segment constituted 11 per cent of total orders (excluding HVDC).
"As nations and organisations steer towards their net-zero targets, energy investments are gaining momentum across verticals utilities, industries, transport & infra," Hitachi Energy India MD and CEO N Venu said.
Hitachi Energy India is an arm of Hitachi Energy.
Its PAT was Rs 23 crore during the October-December period of the preceding 2023-24 fiscal, the company said in a regulatory filing.
The company's revenues increased 31 per cent to Rs 1,672.4 crore from Rs 1,276.4 a year earlier.
It reported its highest-ever quarterly order of Rs 11,594.3 crore in the quarter ended December 2024.
The surge can be primarily attributed to a large high-voltage direct current (HVDC) order to transmit renewable energy from Khavda in Gujarat to Nagpur, Maharashtra, the company said.
At the close of December 31, 2024, the company recorded its highest-ever order backlog of Rs 18,994.4 crore, providing revenue visibility for the coming quarters.
Excluding the one-time large HVDC order, the share of exports grew to over 40 per cent of total orders in Q3 FY25, with power quality, substation & renewable orders from Australia, Indonesia, Canada, Croatia, and Azerbaijan, among others.
Similarly, the service segment constituted 11 per cent of total orders (excluding HVDC).
"As nations and organisations steer towards their net-zero targets, energy investments are gaining momentum across verticals utilities, industries, transport & infra," Hitachi Energy India MD and CEO N Venu said.
Hitachi Energy India is an arm of Hitachi Energy.
Source: PTI
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