TOKYO (dpa-AFX) - Japanese conglomerate Hitachi, Ltd. (HTHIF.PK) reported Wednesday that its second-quarter net income attributable to stockholders dropped to 116.9 billion yen from last year's 139.0 billion yen.
EBIT for the quarter declined to 190.1 billion yen from 217.9 billion yen a year ago. Adjusted EBITA was 224.5 billion yen, lower than last year's 229.9 billion yen.
However, adjused operating income grew to 207.1 billion yen from prior year's 194.9 billion yen.
Revenues for the quarter were 2.33 trillion yen, down 11 percent from 2.64 trillion yen a year ago.
Further, the company said it plans to pay the FY24 interim dividend of 21 yen per share, 31 percent year-over-year increase from the FY23 interim dividend.
Looking ahead for fiscal 2024, ending March 31, 2025, Hitachi continues to expect attributable net profit of 600 billion yen.
Adjusted operating income for the year is now expected to be 875 billion yen, a growth of 20 billion yen from previous outlook, and higher than last year's 755.8 billion yen.
Hitachi now expects revenue to decline 6 percent from last year to 9.15 trillion yen. Previously, the company was projecting a drop of 7 percent to 9 trillion yen.
In Japan, Hitachi shares closed Wednesday's trading at 4,147 yen, up 2.3 percent.
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