Hitachi Energy Q1: Profit More Than Doubles As Margins Expand, Revenue Jumps 69%

Hitachi Energy India reported a strong performance for the first quarter, with net profit more than doubling year-on-year as robust revenue growth and an expansion in EBITDA margin boosted profitability.

Net profit rose to Rs 294 crore in Q1 from Rs 132 crore in the year-ago period, beating the Street estimate of Rs 251 crore.

Revenue jumped 68.6% year-on-year to Rs 2,494 crore from Rs 1,479 crore. The topline also came in ahead of the estimated Rs 2,320 crore.

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EBITDA increased to Rs 364 crore in the quarter from Rs 155 crore a year earlier, marking a sharp improvement in operating profitability. The figure was marginally ahead of the Street estimate of Rs 358 crore.

EBITDA margin expanded to 14.6% in Q1 from 10.5% in the corresponding quarter last year. However, the margin was below the Street estimate of 15.4%.

The strong improvement in profitability came against the backdrop of a 68.6% jump in revenue, with both EBITDA and net profit registering significant year-on-year gains.

The combination of strong topline growth and wider operating margins helped Hitachi Energy India deliver a substantial improvement in its bottom line during the quarter.

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Hitachi Energy Q1 Result Highlights (Cons, YoY)

• Profit up at Rs 294 crore versus Rs 132 crore (vs Estimate of Rs 251 crore)
• Revenue up 68.6% at Rs 2,494 crore versus Rs 1,479 crore (vs Estimate of Rs 2,320 crore)
• Ebitda up at Rs 364 crore versus Rs 155 crore (vs Estimate of Rs 358 crore)
• Ebitda Margin at 14.6% versus 10.5% (vs Estimate of 15.4%)

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