Hitachi Energy India Ltd (HEIL) on July 25 posted a 79.85% increase in net profit at ₹2.41 crore for the first quarter of the current fiscal year. The company had reported a net profit of Rs 1.34 crore in the same quarter for the previous fiscal year, the company said in a regulatory filing.

The operating revenue increased to Rs 1,043 crore from Rs 991.32 crore in the year-ago quarter.

The company expense increased from Rs 989.21 crore in the previous year-ago quarter to Rs 1,039.62 crore in the quarter under review.

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 June 30, 2023 quarter, the company received orders worth Rs 1,147.5 crore, up 6% YoY.

Hitachi Energy has its headquarters in Switzerland; it is a global technology leader advancing a sustainable energy future for all.

Hitachi Energy operates under the legal entity name ‘Hitachi Energy India Limited’, which was formerly known as ABB Power Products and Systems India Limited.