(RTTNews) - Japanese conglomerate Hitachi, Ltd. (HTHIF.PK) reported Wednesday that its first-quarter net income attributable to stockholders grew to 175.33 billion Japanese yen from last year's 70.02 billion yen.
Earnings per share were 37.83 yen, up from 14.94 yen last year.
EBIT, a key earnings metric, surged to 258.19 billion yen from 121.90 billion yen a year ago.
Revenues, meanwhile, fell 5 percent to 2.21 trillion yen from last year's 2.32 trillion yen.
Looking ahead for fiscal 2024, ending March 31, 2025, the company expects to achieve almost all KPIs of the Mid-term Management Plan 2024.
The company continues to expect attributable net profit of 600 billion yen or 129 yen per share, and earnings per share excluding effect of share split of 648 yen, all higher than last year.
Hitachi still expects revenue to decline 7 percent from last year to 9 trillion yen.
In Japan, Hitachi shares closed Wednesday's trading at 3,288 yen, up 1.5 percent.
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