Hitachi Energy’s share price surged over 8% in the early trading session on Wednesday, following the company’s report of more than doubling its net profit in the Q4 results. The shares soared as much as 8.01%, reaching an intra-day high of Rs 11,700 per share on the NSE.
Hitachi Energy India reported a 123.7% growth in net profit for the March quarter, reaching Rs 113.7 crore, primarily driven by higher revenues. This compares to a net profit of Rs 50.8 crore in the same quarter last year, according to a statement from the company.
The company achieved strong revenues of Rs 1,699.2 crore, marking a 27.2% year-on-year increase from Rs 1,336.3 crore in the previous year.
In the March quarter, orders totaled Rs 1,406.7 crore, up 11.5% from Rs 1,262 crore a year ago.
“A strong revenue performance, supported by a favorable external environment, helped deliver double-digit margins,” said Hitachi Energy India MD & CEO N Venu in the statement.
The board of directors has recommended a final dividend of Rs 4 per share with a face value of Rs 2 each, pending approval from shareholders at the upcoming Annual General Meeting (AGM).
Stock performance in last one year
In terms of stock performance, Hitachi Energy shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 31.50% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 127.58%, indicating a strong upward trend.
Year-to-date, Hitachi Energy shares have surged by 103%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 171.41% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
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