(Alliance News) - Hitachi Ltd on Friday said its revenue more than doubled in the first quarter of its current financial year.
The Tokyo-based manufacturer of communications and electronic equipment, heavy electrical and industrial machinery, and consumer electronics, said revenue rose to JPY2.367 trillion, about USD21.61 billion, in the three months to June 30. A year ago, the company reported revenue of JPY1.594 trillion.
Net income in the quarter, meanwhile, grew by 60% year-on-year to JPY226.4 billion.
The company noted that its growth was led by reforms of business and cost structure. It also noted solid order intake, mainly in markets recovering from the COvid-19.
Hitachi shares closed 2.4% lower in Tokyo on Friday at JPY6,258.00 each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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