Hitachi Energy, on Wednesday, said its net profit dipped 1.68 per cent to ₹50.81 crore in the March quarter.
The company reported a net profit of ₹51.68 crore for the year-ago period, according to a BSE filing.
Total income rose to ₹1,336.30 crore from ₹1,142.13 crore in the same period a year ago.
The company received an order worth ₹1,262 crore in Q4, which was higher than ₹1,043.6 crore in the year-ago period.
As of March 31, 2023, the order backlog stood at ₹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 bottom line," N Venu, MD and CEO, Hitachi Energy India, said in a statement.
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He stated that the price of certain commodities specific to this industry remains high and the chips and electronics shortage persists.
"We have resiliently navigated these challenges and remain optimistic about leveraging opportunities arising from the fast evolving energy transition along with customers and stakeholders," he added.
For the year FY23, the company's board has recommended a final dividend of ₹3.40 per share of face value ₹2 each.
Appointment and change
Further, the company said Nishi Vasudeva has resigned as non-executive Independent Director with effect from May 24, 2023.
Meena Ganesh was appointed as an additional director in the capacity of non-executive independent director for five years with effect from May 24, 2023.
She is the chairperson and co-founder at Portea Medical, and serves on the board of Pfizer India, P&G Health & Hygiene Ltd, and Axis Bank, it stated.
Hitachi Energy serves customers in the utility, industry, and infrastructure sectors with innovative solutions and services across the value chain.