Hitachi Energy India Q1 Results: Hitachi Energy India Q1 Results: Net profit dips nearly 92% to Rs 1.34 crore

New Delhi: ‘s net profit dipped nearly 92 per cent year-on-year to Rs 1.34 crore in the June quarter, mainly due rising cost of commodities and supply chain bottlenecks. The company had reported a net profit of Rs 16.30 crore in the quarter ended on June 30, 2022, a BSE filing showed on Thursday.

The total income of the company rose to Rs 991.32 crore in the quarter from Rs 796.82 crore.

The company explained that the quarter witnessed the rising cost of commodities and supply chain bottlenecks, creating a drag on margins.

Various measures are being adopted to reduce the impact, with a special focus on semiconductors, it added.

The company booked orders worth Rs 3,054.6 crore (in April-June), up 309.7 per cent year-on-year, mainly driven by utilities as energy transition gathers pace, it stated.

Products for grid infrastructure and power quality technologies continued to boost exports that contributed more than 20 per cent to the order intake.

The order backlog at the end of the quarter witnessed robust growth to Rs 6,777.2 crore, the highest in three years, providing revenue visibility for coming quarters, it added.

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