Hitachi Home and Life Solutions (India) is a 72.41% subsidiary of Hitachi Appliances Inc., Japan, manufactures and trades in the Hitachi brand of air conditioners, refrigerators and chillers in India. For the first quarter ended 30^th June 2014, the company posted a set of superlative numbers, driven purely by high demand and high sales. Its topline for the quarter came in at Rs.596 crore, up 27% (YoY) and sequentially, it rose by a huge 91%. Despite tax outgo rising almost 4 times over previous Q1 to around Rs.20 crore, the company ended Q1FY15 with a net profit at Rs.43 crore, up 207% (YoY) and over 400% sequentially.

The company had ended FY14 with a net profit at Rs.8 crore and in current fiscal, in Q1 alone net profit is up over 5 times that of FY14, heralding a good FY15 if the same trend continues. Clearly delayed monsoon and the scorching heat has sent the sales and thus the performance of the company soaring. To minimize operational costs, the company is shifting its entire Jammu unit, with manpower, plant and machineries to its mother plant in Gujarat. Centralised production, the company says, will improve overall performance.