Income from operations rose by 52% year-over-year to Rs 610.08 crore during the quarter.

Total expenses increased by 33% to Rs 493.66 crore in Q4 FY24 over Q4 FY23, due to higher raw material costs (up 4% YoY), higher employee costs (up 81% YoY) and higher other expenses (up 68% YoY).

Profit before tax in Q4 FY24 stood at Rs 97.82 crore, up by 171% from Rs 36.14 crore in Q4 FY23.

For FY24, HBL Power Systems has reported net profit and revenue of Rs 280.88 crore (up 185% YoY) and Rs 2,233.35 crore (up 63% YoY), respectively.

HBL Power Systems (HBL) specializes in developing and manufacturing products and solutions for telecom, industrial, railways and defence applications. The company has seven fully integrated facilities manufacture batteries, electronics and engineered products based on in-house developed technologies. In addition to catering to niche sectors namely telecom, UPS, solar, defence and railways in India, HBL's products are marketed across the globe spanning 80+ countries.