Net profit of the electronic products manufacturer shot up 203 percent on yearly basis to Rs 43 crore during April-June quarter from Rs 14.2 crore on account of strong sales and operational performance despite higher expenses.
Shares of Hitachi Home and Life Solutions (India) touched an all-time high of Rs 414, up 13.7 percent intraday after reporting stellar performance in the quarter ended June 2014. Net profit of the electronic products manufacturer shot up 203 percent on yearly basis to Rs 43 crore during April-June quarter from Rs 14.2 crore on account of strong sales and operational performance despite higher expenses. Delayed onset of monsoon and a longer-than-expected summer may have pepped up sales for the company. Net sales grew 27 percent year-on-year to Rs 596 crore during the quarter while other expenses jumped 27.7 percent to Rs 126 crore in the quarter gone by. Operating profit rose 74.2 percent to Rs 68.6 crore and margin expanded 310 basis points to 11.4 percent in June quarter. Meanwhile, the company last week decided to shift its entire Jammu unit along with manpower, plant and machineries to its main plant in Gujarat without adversely affecting the production capacity.
Shares of Hitachi Home and Life Solutions (India) touched an all-time high of Rs 414, up 13.7 percent intraday after reporting stellar performance in the quarter ended June 2014. Net profit of the electronic products manufacturer shot up 203 percent on yearly basis to Rs 43 crore during April-June quarter from Rs 14.2 crore on account of strong sales and operational performance despite higher expenses. Delayed onset of monsoon and a longer-than-expected summer may have pepped up sales for the company. Net sales grew 27 percent year-on-year to Rs 596 crore during the quarter while other expenses jumped 27.7 percent to Rs 126 crore in the quarter gone by. Operating profit rose 74.2 percent to Rs 68.6 crore and margin expanded 310 basis points to 11.4 percent in June quarter. Meanwhile, the company last week decided to shift its entire Jammu unit along with manpower, plant and machineries to its main plant in Gujarat without adversely affecting the production capacity.
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