Hitachi Energy India reported a profit of Rs 10.42 crore for the first quarter of FY25, a massive increase of 332.4% compared to Rs 2.41 crore in the same quarter of FY24. The company’s revenue from operations reached Rs 1327.24 crore, up 27.6% from Rs 1040.06 crore in the previous year. However, revenue declined sequentially due to a traditional product mix.
EBITDA for the quarter was Rs 47.7 crore, up 41.5% year-on-year. MD & CEO N Venu stated that the growing investments in renewables and the power sector are driving strong order intake and a record order backlog.
Hitachi Energy recorded orders worth Rs 2,436.7 crore, more than doubling from the previous year. These orders included projects in renewables, grid integration, power quality, and digital solutions for better network management. Export orders grew by 47% year-on-year, with significant bookings from Europe, the Middle East, Australia, and South Asia.
As of June 30, 2024, the company’s order backlog was at a record high of Rs 8,539.4 crore, ensuring revenue visibility for the upcoming quarters. Hitachi Energy is a global technology leader specializing in power grids and energy solutions. Formed as a joint venture between Hitachi Ltd. and ABB’s Power Grids business, the company focuses on delivering advanced and sustainable energy solutions worldwide. Hitachi Energy offers a wide range of products and services, including transformers, switchgear, and digital solutions for energy management.
With a commitment to innovation and sustainability, the company aims to enhance the efficiency, reliability, and safety of power systems. Hitachi Energy serves a diverse range of industries, including utilities, transportation, and manufacturing, helping to drive the transition towards a more sustainable energy future. The company’s expertise and global reach make it a key player in the energy sector, addressing the growing demand for cleaner and smarter energy solutions.
