Multibagger stock: Hitachi Energy zooms 8% as Q4 profit doubles, up 190% in a year
Hitachi Energy surged 8% to ₹11,700 apiece in early morning trade today following the release of impressive Q4 and full fiscal year (FY24) results. After market hours on Tuesday, the company reported a 123.7% increase in Q4 consolidated net profit, reaching ₹113.7 crore compared to ₹50.8 crore in Q4 FY23. Sequentially, net profit soared 394.8%, with the previous quarter's profit at ₹23 crore.
Revenue from operations for the reporting quarter rose by 27.2% YoY to ₹1,699.2 crore, while EBITDA increased by 96.3% YoY to ₹150.1 crore. For the full FY24, the company reported a PAT of ₹163.8 crore and a revenue of ₹5536.3 crore, which is an improvement of 74.4% and 14.0% YoY, respectively. “A strong revenue performance, helped by a favourable external environment, helped to deliver double-digit margins," said N Venu, MD & CEO of Hitachi Energy India Ltd.
“Sustained Economic growth and ongoing investments in the energy transition, especially renewables, transmission infrastructure, data centres, and electrification of transport, are encouraging trends from a market perspective, and we are well positioned to leverage these as we continue to grow the business." Also Read: Multibagger stock: GE T&D India gained over 600% in just a year The company has secured several significant orders across various sectors. In renewables, the company has contracts for 220 kV and 400 kV AIS S/S. For Chennai Metro Rail, the company has secured contracts for dry and power Transformers.
In the hydropower sector, Hitachi Energy has been awarded contracts for 9 X 400 kV GIS & 400 kV reactors. Multiple state utility projects have resulted in orders for 4 X 765 kV transformers and 9 X 400 kV GIS. Additionally, Hitachi Energy has secured contracts for 2
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