Hitachi Posts Strong Q1 Results

(RTTNews) - Hitachi Ltd. (HTHIF.PK, HTHIY.PK), on Thursday, reported a strong first-quarter performance, with revenue and earnings showing modest year-over-year growth driven by operational efficiency and strong financial income.

Q1 net income attributable to Hitachi stockholders increased to 192.2 billion Yen from 175.3 billion Yen last year. EPS increased to 42.01 Yen from 37.83 Yen in the prior year period.

Financial income surged to 72.6 billion Yen, significantly contributing to the growth in income before taxes, which totaled 272.0 billion Yen. This was partially offset by reduced equity method profits, down to 7.6 billion Yen.

Consolidated revenues rose to 2,258.3 billion Yen from 2,211.4 billion Yen, propelled by broad-based sales across business segments. Gross profit improved to 661.5 billion Yen, while adjusted operating income increased to 211.0 billion Yen.