Hitachi Q1 Net Profit Down, EBIT Rises

(RTTNews) - Japanese conglomerate Hitachi Ltd. (HTHIY.PK) reported Wednesday slightly lower net profit in its first quarter, while earnings per share as well as EBIT, a key earnings metric, increased with higher revenues.

In the quarter, net income attributable to stockholders dropped to 189.45 billion yen from 192.20 billion yen a year ago. Earnings per share, however, increased to 42.21 yen from 41.98 yen last year.

Earnings before interest and taxes or EBIT increased to 294.12 billion yen from 273.74 billion yen a year ago. Adjusted operating income climbed to 294.29 billion yen from last year's 211.02 billion yen.

In the quarter, revenues grew to 2.71 trillion yen from last year's 2.26 trillion yen.

In Tokyo, the shares closed Wednesday's regular trading at 4,957.00 yen, up 1.37 percent.

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