Page 2 - Hitachi

Hitachi Energy India June quarter net profit jumps 79.85% to Rs 2.41 cr

Hitachi Energy India Ltd (HEIL) on Tuesday posted a 79.85 per cent jump in net profit at Rs 2.41 crore in the April-June quarter of 2023-24, on account of higher income. It had posted a net profit of Rs 1.34 crore in the corresponding period of 2022-23, the company said in a regulatory filing. The total income also increased to Rs 1,043 crore from Rs 991.32 crore in the year-ago quarter. Expenses soared to Rs 1,039.62 crore in the first quarter of FY24, as against Rs 989.21 crore a year ago. In a separate statement, company's 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 quarter ending June 30, 2023, the company received orders worth Rs 1,147.5 crore, up 6 per cent year-on-year (y-o-y). Headquartered in Switzerland, Hitachi

Hitachi loses position among top-three selling air conditioner brands

From 2020-21, Johnson Controls-Hitachi Air Conditioning India has seen its profits shrink year-on-year and the firm went into losses in 2022-23

Sporadic rains hurt sales of summer products, firms counting on June

The untimely episodes of rainfall have prevented the rise in temperatures in north India which usually experiences hot weather during the months of April and May

Hitachi Energy net profit dips 1.68% to Rs 51 cr in March quarter

Hitachi Energy on Wednesday said its net profit dipped 1.68 per cent to Rs 50.81 crore in March quarter 2022-23. The company reported a net profit of Rs 51.68 crore for the year-ago period, according to a BSE filing. Total income rose to Rs 1,336.30 crore from Rs 1,142.13 crore in the same period a year ago. The company received an order worth Rs 1,262 crore in the fourth quarter, which was higher than Rs 1,043.6 crore in the year-ago period. As of March 31, 2023, the order backlog stood at Rs 7,071 crore, providing revenue visibility for the coming quarters, it stated. "Our success is a result of our focused strategy, diversified portfolio, and relentless pursuit for improving the bottomline," N Venu, Managing Director and Chief Executive Officer of Hitachi Energy India, said in a statement. He stated that the price of certain commodities specific to this industry remain high and chips & electronics shortage persists. "We have resiliently navigated these challenges and remain .

'Eyeing 20% growth in Indian market', says Hitachi's Gurmeet Singh

ACs are not perceived as luxury items anymore, says Gurmeet Singh, chairman & MD, Hitachi Air Conditioning India

Hitachi India aims to contribute $20 bn to parent's global revenue by 2030

Hitachi India, part of the Japanese conglomerate Hitachi, aims to work towards contributing USD 20 billion in the overall consolidated global revenue for the parent company by 2030 with a 'higher double-digit profit', said Managing Director Bharat Kaushal. By 2030, Hitachi India aims to occupy an "influential position" across rail, energy, and digital, automotive businesses of the group, he said. "Some of the horizontal enablers that support integrating technologies using digital as the catalyst including Artificial Intelligence (AI), hydrogen, and energy storage, will become an important growth driver. We aim to have a higher double-digit profit to the overall Hitachi's consolidated revenues," Kaushal told PTI. India is increasingly emerging as a base to do business outside India, especially in capital goods, where the government has launched a lot of incentives for technology transfer, and funding it, allowing to keep the IPR and these are very significant steps. When asked about

EnKash gets RBI's in-principle nod to operate as online payment aggregator

On Tuesday, Hitachi Payment Services and BharatPe also received in-principle authorisation to operate as payment aggregators

Hitachi Payment, BharatPe get RBI nod to operate as payment aggregators

In-principle approval takes firms closer to offering to digital financial services to clients

Hitachi Rail wins bid to run automatic Metro train operations: CMRL

A consortium led by Hitachi Rail has emerged winner for the largest signalling tender worth Rs 1,620 crore that would enable automatic train operations, the Chennai Metro Rail Ltd said on Tuesday. The ultra-modern communication-based train control system would allow Chennai Metro rail to take up automatic train operation without the need for a driver. Hitachi Rail STS SPA and Hitachi Rail STS India Pvt Ltd has been awarded the bid for the 'design, manufacture, supply, installation, testing and commissioning of signalling, train control and video management system', Chennai Metro Rail said in a statement. "This is the largest signalling tender being executed", CMRL said. This is the phase two project of the agency valued at Rs 1,620 crore and the system would incorporate the metro rail technology currently being used around the world. For safe transport of passengers, the system would undergo intensive testing on various safety parameters and it would be certified by an independent

Tata Hitachi upbeat about growth, aims for 15-20% revenue jump in FY23

Leading construction machinery major Tata Hitachi was aiming at 15-20 per cent rise in revenue in the current fiscal, a top company official said. The company had clocked a revenue of close to Rs 4,000 crore during FY'22. "The growth in volume terms will be around 10-12 per cent, while value growth is likely to be close to 15-20 per cent as the demand growth was more from the high value mining equipment," Tata Hitachi managing director Sandeep Singh said on the sidelines of CII organised IMME 2022 here on Thursday. Demand from the infrastructure sector was growing at around 12-15 per cent, while the growth from the mining sector was close to 20-25 per cent. Tata Hitachi has renewed its focus on the mining sector and has launched dumpers to offer a full solution for the sector that is poised at tremendous growth with the entry of the private sector in mining. "Mining currently accounts for around 8 per cent of our in volume terms but expect the share of mining to go up to 15 per ce

Hitachi Energy to supply transformers for NTPC renewable energy park

The NTPC REL facility in Kutch produce electricity to support 8 million people

Extending purview: RBI to regulate offline payment aggregators, too

Pinelabs, MSwipe, Ezetap, FSS, Hitachi payments, Worldline, etc. are some offline payment aggregators

Hitachi Energy India net profit up 31% to Rs 52 cr in March quarter

Hitachi Energy India on Friday posted an over 31 per cent rise in net profit to Rs 51.68 crore for the March quarter, mainly on the back of higher revenues. The company had posted a net profit of Rs 39.44 crore in the quarter ended March 31, 2021, a BSE filing showed. Total income in the quarter under review rose to Rs 1,142.13 crore from Rs 1,023.77 crore in the year-ago period. The company follows the January to December fiscal year. The board of directors recommended a dividend of Rs 3 per share (150 per cent), subject to the approval of members at the forthcoming Annual General Meeting. It also re-appointed N Venu as managing director and CEO of the company for a further period of five years commencing December 2, 2022. Besides, the board reappointed the independent directors -- Akila Krishnakumar, Nishi Vasudeva and Mukesh Butani -- for a second term of five years commencing December 24, 2022. The re-appointments are subject to the approval of the shareholders. "The continu

Japan's Hitachi to suspend Russia operations after Ukraine request: Nikkei

Influential proxy advisory firm Institutional Shareholder Services (ISS) has advised against Toshiba Corp's break-up plan to be put to a vote on March 24, the Nikkei business daily reported

SHAPING CUTTING-EDGE MOBILITY AS INDIA'S NEXT GROWTH ENGINE

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Hitachi to sell about half its stake in construction unit: NHK report

The construction unit's market value at the end of share trading in Tokyo was 753 billion yen.

ABB Power Products rebrands itself as Hitachi Energy India

ABB Power Products & Systems India on Friday announced its rebranding as Hitachi Energy India Ltd. "Following the recent rebranding of its parent company to Hitachi Energy, its operations in India today announced their evolution to Hitachi Energy India Limited', reaffirming their commitment to accelerating the clean energy transition in India," a company statement said. Formerly known as ABB Power Products & Systems India Limited, the business continues to be listed on India's stock exchanges, it added. India is on an ambitious journey to become carbon-neutral and at the recent COP26 climate summit in Glasgow, the country announced a five-point climate pledge for 2030 and a target of net-zero carbon emissions by 2070, it said. Hitachi Energy, which has focused its purpose on 'advancing a sustainable energy future for all', views India among its top five markets for expansion. India has significant potential in renewable energy, smart grids, grid modernisation, and the ...

Hitachi 'reimagining' India as global hub for new age tech solutions

Hitachi is "reimagining" India as a global hub in terms of new age technologies and solutions which will drive its businesses in the country as well as global markets, a top company official has said.

Hitachi ABB Power Grids in India to go carbon neutral by 2030

Has already signed PPAs with a few green power generators in Gujarat, will sign more such contracts to move to 100% green energy by March 2022

Hitachi ABB Power Grids in India sets 2030 carbon-neutral programme

Hitachi ABB Power Grids in India on Wednesday announced a comprehensive programme to achieve carbon-neutrality targets by 2030 in its operations, reaffirming commitment to a sustainable energy future