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<keyword id="12986909" type="General" weightage="20" keywordseo="hitachi-energy-india-ltd" source="Orion">Hitachi Energy India Ltd</keyword> (HEIL) on Tuesday posted a 79.85% jump in net profit at ₹2.41 crore in the April-June quarter of 2023-24, on account of higher income. It had posted a net profit of ₹ 1.34 crore in the corresponding period of 2022-23, the company said in a regulatory filing. The total income also increased to ₹ 1,043 crore from ₹ 991.32 crore in the year-ago quarter. Expenses soared to ₹ 1,039.62 crore in the first quarter of FY24, as against ₹ 989.21 crore a year ago. In a separate statement, company's MD and CEO N Venu said: "We remain focused on balancing our operational complexity and efficiencies to preserve the growth momentum. "While persistent delays in chips and electronics led to lower revenue in the quarter, sustained operational excellence efforts provide visibility in the near-term." In the quarter ending June 30, 2023, the company received orders worth ₹ 1,147.5 crore, up 6 %year-on-year (y-o-y). Headquartered in Switzerland, Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. In India Hitachi Energy operates under the legal entity name Hitachi Energy India Limited (formerly known as ABB Power Products and Systems India Limited).

Hitachi Energy India June quarter net profit jumps 80% on higher income

<keyword id="46212" type="General" weightage="20" keywordseo="suzlon-energy" source="Orion">Suzlon Energy</keyword> registered a 96% decline in consolidated net profit at ₹101 crore in the April-June quarter. The company had registered a consolidated net profit of ₹2,433 crore in the year-ago quarter, an investors' presentation showed. The company's net revenue in the first quarter of this fiscal also came down to ₹ 1,348 crore from ₹ 1,378 crore in the year-ago period. <keyword id="307072" type="General" weightage="20" keywordseo="girish-tanti" source="Orion">Girish Tanti</keyword>, vice-chairman, Suzlon Group, said in a statement, "With the country poised to lead decarbonisation of its economy, we are seeing renewed enthusiasm from India Inc. to drive this green energy transition." J P Chalasani, chief executive officer, Suzlon Group, said in the statement, "At Suzlon, we continue to show stable and steady growth in line with our business plan. With the fruition of our initiatives to strengthen the balance sheet and reduce debt, our focus is now on ramping up our operations to service our cumulative orders, which stand at a healthy 1,582 MW as on date." Himanshu Mody, chief financial officer, Suzlon Group, said in the statement, "Q1 of FY24 takes forward our consistent efforts to consolidate and stabilise our performance over the last few quarters. Q1 FY24 shows YoY (year-on-year) growth and an improvement in overall profitability with a steady performance on all our key parameters." After a sustained effort to reduce debt in 2022-23, which has resulted in a healthier and sustainable balance sheet for the company, our focus in FY24 remains on funding our operations and fulfilling our commitments to customers and other stakeholders, he said. "We continue to maintain strict control on costs and are in the process of further optimising our organisational structure to drive excellence and continual improvement on the strong foundation set with over the last three years," he added.

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

Leading <keyword id="6732896" type="General" weightage="100" keywordseo="renew" source="Orion">renew</keyword>able energy company ReNew Energy Global has posted a net loss of Rs 986 million for the quarter ended September 2022 (Q2 FY23), against Rs 6,614 million loss in the year-ago period (Q2 FY22). The company said it managed to narrow its loss due to higher revenues. The company's total income (or total revenue) for Q2 FY23 was Rs 22,409 million, an increase of 5.1 per cent over Q2 FY22. The company in a statement said its adjusted operating profit or earnings before interest, taxes, depreciation, and amortisation (Ebitda) for Q2 FY23 was Rs 18,209 million, an increase of 0.1 per cent over Q2 FY22. Cash Flow to equity for the quarter under review was Rs 7,125 million, an increase of 4.7 per cent over Q2 FY22. Days Sales Outstanding ended Q2 FY23 at 231 days, which is a 41-day improvement year-on-year and the company increased its cash by Rs 4,881 million through a reduction in accounts receivables during the quarter. The Gurgaon-headquartered company said $ 300 million in green bonds were redeemed during Q2 FY23. As of September 30, 2022, 50 per cent of total outstanding debt is local currency borrowing. A green bond is a type of debt security created for funding or re-funding projects contributing positively to the climate and/or ecosystem. As of September 30, 2022, the Company's portfolio consisted of 13.4 GWs, a 30.8 per cent increase year on year. Approximately 1 GW of purchase power agreements was signed in the quarter, the renewable energy company said. <keyword id="161716" type="General" weightage="50" keywordseo="sumant-sinha" source="Orion">Sumant Sinha</keyword>, Chairman and CEO, ReNew, said "ReNew continues to lead the energy transition in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> and during the quarter, we signed 1 GW of purchase power agreements as a preferred partner for carbon-mitigation solutions. We have furthered our investments in capacity and our technology and analytics capabilities through acquiring shares of 3E, a leading SaaS solutions company in renewable energy and a new partnership with <keyword id="5283165" type="General" weightage="50" keywordseo="norfund" source="Orion">Norfund</keyword> and KLP," and added that the core operations of the company continue to execute as expected this year and our continued access to affordable capital is enabling the company to capitalise on significant growth opportunities. ReNew also said it entered into a partnership with Norfund, the Norwegian government's investment fund for developing countries, and KLP, Norway's largest pension company, to co-invest in ReNew's transmission projects. ReNew signed definitive documents to acquire shares in 3E, a software as a service (SaaS) solutions company offering asset performance management and analytics for renewable energy assets. <keyword id="944686" type="General" weightage="50" keywordseo="renew-power" source="Orion">ReNew Power</keyword> is one of India's leading renewable energy companies. Based in Gurugram, Haryana, it has an asset base of over 10 GW, with around 5 GW operational. ReNew Power operates over 110 projects across 18 states in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pakistans-default-risk-soars-amid-political-turmoil-says-a-dawn-news-report/articleshow/95574205.cms">Pakistan's default risk soars amid political turmoil says a Dawn news report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/union-bank-tata-power-renewable-join-hands-to-help-msmes-switch-to-solar/articleshow/95575042.cms">Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar</a>

ReNew Energy's Q2 loss narrows to ₹986 million

<ul class="summary-list"><li>FuelCell shares fell as much as 15% Tuesday following the company's first-quarter financial report. </li><li>The <keyword id="188239" type="PERSON" weightage="60" keywordseo="alternative-energy">alternative energy</keyword> company's adjusted loss of $0.06 a share was more than Wall Street's expected loss of $0.04 a share. </li></ul><a href="https://markets.businessinsider.com/stocks/fcel-stock">FuelCell Energy shares</a> fell as much as 15% on Tuesday after the alternative energy company posted a wider first-quarter loss than Wall Street had expected. Shares pared some losses but closed lower by over 9%, at $15.42.The company posted an adjusted loss of $0.06 a share, which was wider than a loss of $0.04 a share expected in a consensus estimate produced by Zacks. The company's net loss of $0.15 a share was narrower than its loss of $0.20 a share a year earlier.The company also said its total revenue fell to $14.9 million from $16.3 million a year ago, leaving the top-line figure below the Zacks estimate of $20.25 million. There was a decline in generation revenues to $4.9 million from $5.4 million because of a temporary shut-down of several Bridgeport fuel cell project plants in Connecticut for scheduled module exchanges, the company said.FuelCell noted that its first-quarter backlog fell by 7% to $1.27 billion from $1.36 billion in the same period in 2020.The company also said it's "made tangible progress" in its decarbonization development efforts by producing <keyword id="169046" type="COMPANY" weightage="60" keywordseo="hydrogen">hydrogen</keyword> with its solid oxide electrolysis platform."Additionally, we continued to advance our joint research with ExxonMobil Research and Engineering Company on fuel cell carbon capture solutions," Jason Few, chief executive of FuelCell, said in the financial statement.

FuelCell stock drops after reporting bigger-than-expected quarterly loss

<ul><li>India's largest bank, the State Bank of India (<keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>) and <keyword id="69870" type="CITY" weightage="20" keywordseo="Hitachi">Hitachi</keyword> Payments are embarking on a <keyword id="6373972" type="UNKNOWN" weightage="20" keywordseo="Joint-venture">joint venture</keyword> that will take on <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">digital payments</keyword> and card acceptance platforms. </li><li>Combining the individual strengths of both, the venture will deliver payment services to the customers and merchants on Quick Response (QR) code acceptance, Unified Payment Interface (UPI) and e-commerce businesses.</li><li>Hitachi manages over 70% of SBI’s current network and this joint venture will further strengthen their partnership.</li></ul>The State Bank of India (SBI), India's largest commercial bank, signed an agreement with the Hitachi Group (Japan) embarking on a joint venture to establish digital payments and a card acceptance platform in the country. While the bank will have a majority stake in the proposed venture, according to its <a href="https://www.hitachi.com/New/cnews/month/2018/10/181029c.html">press release</a>, Hitachi is planning to invest 26% in its subsidiary SBI Payment Services. Both parties will now be proceed to apply for regulatory approvals. In India, SBI's customer base expands to nearly <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">420 million</a> people and is the largest merchant acquirer in the market in terms of terminals through its subsidiary, SBI Payment. So far it has managed to deploy <a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/">1.96 million</a> merchant payment acceptance touch points across the country. But, looking to shift that burden, SBI has initially shortlisted <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">three companies</a> for the joint venture — Hitachi, Worldline and First Data Corporation. Whichever company got shortlisted would then be in-charge of deploying credit card swipe machines. According to SBI’s annual report for the FY18, SBI Payment Services’ total balance sheet equity, including surplus and reserves, was reported to be <a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/">₹38 million</a> while the total balance sheet assets were at<a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/"> ₹56 million</a>. The joint venture blends the distribution network of SBI with Hitachi’s technology and services including big data, artificial intelligence, analysis and digital payments. The venture will deliver payment services to customers and merchants with Quick Response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses. Rajnish Kumar, the Chairman of SBI, said that the penetration of payment acceptance infrastructure is still low, at <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">2500 Point of Sale (PoS) per million</a>. And with the new joint venture, the bank is hoping the numbers will rise. What's in it for Hitachi? Hitachi is all set to expand its footprint in the Indian market by contributing to the development of digital payments services’ business via digital payments platform in order to ensure quality and better convenience. The venture will combine the individual strengths of both subsidiaries. In a conversation with <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-hitachi-payments-form-joint-venture-for-digital-payment-platform/articleshow/66412731.cms">Economic Times</a>, Hitachi India’s Managing Director Bharat Kaushal stated that this mutually benefitting partnership with the financial giant SBI will allow the company to widen their footprint across India. Hitachi manages over <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">70%</a> of SBI’s current network and this decision to create a joint venture is only going to strengthen the partnership. Hitachi Payments manages over<a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html"> 55,000 ATMs</a> in India and has been providing deployment, management services and handling SBI’s digital acceptance payment network since 2011.

India's largest bank and Hitachi are teaming up to enter the country's booming digital payments space

The summer heat is unbearable. An air-conditioned room has become a necessity to beat the heat. With the cost of ACs becoming more affordable, it is available in different capacities with various star ratings for power saving. If you have a small room with a window, a <keyword id="9900381" type="General" weightage="20" keywordseo="1-ton-ac" source="Orion">1 ton AC</keyword> is enough to provide convenient cooling. To help you buy a 1 ton <keyword id="937192" type="General" weightage="20" keywordseo="window-ac" source="Orion">window AC</keyword> under a budget, here are the best options available on Amazon. <bulletContentEmbed name="B00LHO9VOE" columns="1"><bulletContentHeading name="B00LHO9VOE_head"><div type="image" title="Editor’s Choice" msid="85745853" hostid="261"></div></columnHeadThumb>B00LHO9VOE</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B00LHO9VOE_body"><bulletContentRow name="B00LHO9VOE_6932125774899107"><bulletContentRowHeading><bulletContentRowHead col="1">Hitachi 1 Ton 3 Star Window AC (RAW312KWD)</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Hitachi Window AC has a 3-star rating for energy efficiency. The copper condenser coil is said to offer better cooling and requires less maintenance. The AC comes with a smart feature that automatically sets a desired temperature to cool down the room. It claims to feature a filter clean indicator that reminds you to clean the filter and helps you get healthy air and save power.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B00LHO9VOE_1319157196965496"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Hitachi Window AC is said to feature auto climate technology that adjusts the temperature and fan speed according to the outside environmental factors.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B01CFY8RJO" columns="1"><bulletContentHeading name="B01CFY8RJO_head"><div type="image" title="Recommended" msid="85745944" hostid="261"></div></columnHeadThumb>B01CFY8RJO</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B01CFY8RJO_body"><bulletContentRow name="B01CFY8RJO_7397310024847656"><bulletContentRowHeading><bulletContentRowHead col="1">Blue Star 1 Ton 3 Star Window AC (3W12LA)</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Blue Star Window AC is said to deliver good cooling performance with efficient power saving. It is said to be a suitable choice for small rooms. It comes with a copper condenser coil that requires low maintenance and delivers better cooling performance. It adjusts the temperature at night to let you have a comfortable sleep.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B01CFY8RJO_5123428156383349"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Blue Star Window AC comes with an anti-freeze thermostat that prevents frost from forming and protects the unit.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B00LWRFC1W" columns="1"><bulletContentHeading name="B00LWRFC1W_head"><div type="image" title="Value for Money" msid="85745969" hostid="261"></div></columnHeadThumb>B00LWRFC1W</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B00LWRFC1W_body"><bulletContentRow name="B00LWRFC1W_2976140249084909"><bulletContentRowHeading><bulletContentRowHead col="1">Voltas 1 Ton 3 Star Window AC</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Voltas Window AC is a suitable choice for a small room. It claims to provide efficient cooling even with temperatures soaring to 50-degrees. It claims to have an active dehumidifier which can control the indoor humidity during the monsoon season. The condenser coil is said to be made of copper that is durable and should optimize the power consumption.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B00LWRFC1W_5060265806798171"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Voltas Window AC should be easy to install and is an economical option for a small room.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B08X78KWF9" columns="1"><bulletContentHeading name="B08X78KWF9_head"><div type="image" title="Environmentally Friendly" msid="85746048" hostid="261"></div></columnHeadThumb>B08X78KWF9</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B08X78KWF9_body"><bulletContentRow name="B08X78KWF9_7996807599959541"><bulletContentRowHeading><bulletContentRowHead col="1">Hitachi 1 Ton 3 Star Window AC</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This Hitachi window AC is rated 3-star for energy efficiency. It features a copper condenser coil that should offer better cooling and requires low maintenance. It is said to feature a SuperFine mesh filter that should prevent micro-dust particles from entering the AC unit. It comes with a filter clean indicator that reminds you to clean the filter at regular intervals.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B08X78KWF9_7827320011130311"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Hitachi window AC is said to be pre-charged with a green refrigerant that should be environmentally friendly.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B086TRSFGR" columns="1"><bulletContentHeading name="B086TRSFGR_head"><div type="image" title="Pocket-friendly" msid="85746118" hostid="261"></div></columnHeadThumb>B086TRSFGR</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B086TRSFGR_body"><bulletContentRow name="B086TRSFGR_6328768039394210"><bulletContentRowHeading><bulletContentRowHead col="1">Croma 1 Ton 3 Star Window AC</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Croma window AC is a suitable choice for a small-sized room. It claims to have copper condenser and evaporator coil that should ensure enhanced performance and longevity. It claims to have R-22 refrigerant gas. It comes with two-way auto swing and multiple modes that should ensure efficient cooling performance in all weather conditions.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B086TRSFGR_6182341963125173"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Croma window AC is said to feature an anti-bacteria filter that should prevent the entry of disease causing bacteria.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07Y685TKN" columns="1"><bulletContentHeading name="B07Y685TKN_head"><div type="image" title="Alternative One" msid="85746157" hostid="261"></div></columnHeadThumb>B07Y685TKN</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07Y685TKN_body"><bulletContentRow name="B07Y685TKN_6817918549796681"><bulletContentRowHeading><bulletContentRowHead col="1">Blue Star 1 Ton 3 Star Window AC (3WAE121YDF)</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Blue Star window AC is said to be designed with a new R-410A eco-friendly refrigerant. It is said to deliver comfortable cooling across seasons and the 3-star rating helps it provide power efficient performance. It features an easy-to-clean front panel that can be detached when required.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07Y685TKN_8432664856510367"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Blue Star window AC comes with Dry Mode options that help it cool efficiently in the monsoon season.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Best 1 ton window AC under ₹25000 in India

New Delhi, Brokerage house <keyword id="46909" type="General" weightage="20" keywordseo="ICICI-Securities" source="Orion">ICICI Securities</keyword> on Friday reported a one per cent decline in profit after tax (PAT) at Rs 271 crore for three months ended June 2023. In comparison, the company reported a PAT of Rs 273.6 crore in the year-ago period, ICICI Securities said in a regulatory filing. The decline in the profit could be attributed to higher expenses, as the broking firm's total expenses shot up by 33 per cent to Rs 570 crore in the quarter under review. However, the company's total revenues rose by 18 per cent to Rs 934 crore in the first quarter under review, from Rs 795 crore in the April-June quarter of financial year 2022-23. During the quarter under review, the company added 2.1 lakh clients, taking its overall customer base to 93 lakh. Last month, ICICI Bank approved a proposal to delist ICICI Securities and become a wholly-owned subsidiary of the bank after delisting. ICICI Securities, promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of financial products and investment bank. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different types of services.

You Searched For "hitachi energy india ltd q1 revenue" and got 7 results

Hitachi Energy India June quarter net profit jumps 80% on higher income

PTI

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

PTI

ReNew Energy's Q2 loss narrows to ₹986 million

ANI

FuelCell stock drops after reporting bigger-than-expected quarterly loss

Carla Mozée

India's largest bank and Hitachi are teaming up to enter the country's booming digital payments space

BI India Bureau

Best 1 ton window AC under ₹25000 in India

Shadab Rabbani

ICICI Securities Q1 2023-24 PAT dips 1%, revenues surge 18%

PTI

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