Results for Q3FY23 are released by Hitachi Energy India Limited: Orders display a strong growth.
06-02-2023 Orders continued to climb by over 10% in the three months ended December 31, 2022, rising by 31.3% year over year to INR1,222.1 million. Orders for transformers for interstate power transmission and renewable energy evacuation projects, high-voltage products for a state-backed greenfield refinery, and CoreSenseTM technology to aid a major steel manufacturer in the digital transformation of their power assets are the main driving forces behind the company’s growth. On the strength of measures for 100% electrification and high-speed rail, transportation orders proceeded. India-based Hitachi Energy Ltd. “Yet, in the medium term, supply chain bottlenecks and global macroeconomic headwinds continue to obstruct margin accretion.” The quarter’s profit before taxes was INR 13.4 crore, while the profit after taxes was INR 4.6 crore. Operational EBITA for the quarter was INR 29.9 crore.