Connect with us

Technology

HPL Electric & Power Ltd. Reports Impressive Financial Growth in Q3FY24 & 9MFY24 : Revenue and Profits Rise Amidst Expanding Market Share

Published

on

NEW DELHI, Feb. 16, 2024 /PRNewswire/ — HPL Electric & Power Ltd. (HPL) (NSE: HPL) (BSE: HPL), a leading Indian electric equipment manufacturer is pleased to announce its financial performance for the third quarter of fiscal year 2023-24 (Q3FY24) and nine months of the year (9M FY24). The Company maintains a strategic direction towards sustainable growth in India’s adoption of advanced metering solutions, contributing to consistent high value creation. The Consumer & Industrial segment also saw growth in switchgear up at 28% YoY with wire & cables growth upwards of 13% YoY for 9MFY24.

Consolidated Performance Highlights:

Particulars (in ₹crore)

Q3FY24

Q3FY23

Change

9MFY24

9MFY23

Change

Revenue from Operations

365.57

301.59

21.22 %

1,036.77

899.46

15.27 %

EBITDA

49.71

36.78

35.16 %

136.93

112.28

22 %

EBITDA Margin %

13.60 %

12.20 %

140bps

13.21 %

12.48 %

72 bps

Profit Before Tax

18.97

9.81

93.48 %

4.67

29.2

59.92 %

Reported PAT

11.95

6.38

87.14 %

29.91

18.98

57.57 %

PAT Margin %

3.27 %

2.12 %

115bps

2.88 %

2.11 %

77bps

Key Highlights (in ₹ Crore):

Revenue from operations for 9MFY24 stood at ₹1,036.77 Crore, marking a YoY growth of 15.27% YoY.In the Metering & Systems segment, revenue grew by 28% YoY to ₹215.92 Crore in Q3 FY24 from ₹168.79 Crore in Q3 FY23.Consumer & Industrial segment revenue increased by 13% YoY to ₹149.65 Crore in Q3 FY24 from ₹132.79 Crore in Q3 FY23.EBITDA for 9MFY24 amounted to ₹136.93 Crore, reflecting growth of 22% YoY.Reported PAT (Profit After Tax) for 9MFY24 stood at ₹29.91 Crore, showcasing a significant growth of 57.57% YoY.Revenue from Operations in Q3FY24 reached ₹365.57 Crore, indicating growth of 21.22% YoY.EBITDA for Q3FY24 amounted to ₹49.71 Crore, reflecting growth of 35.16% from ₹36.78 Crore in Q3FY23, with EBIDTA margin improving to 13.60% in Q3FY24 showing an enhancement of 140 basis points (bps) from 12.20% in Q3FY23.Reported PAT (Profit After Tax) for Q3FY24 stood at ₹11.95 Crore, showcasing robust growth of 87.14% from ₹6.38 Crore in Q3FY23, with PAT margin improving by 3.37% in Q3FY24 up by 115bps.Order book of over ₹2400+ Crore.

HPL Electric & Power Ltd.’s performance in Q3FY24 & 9MFY24 and continued growth trajectory stem from its strategic focus on a diverse range of product segments, including wire & cables, switchgear, lighting, and smart meters. These segments are integral components of housing and infrastructure projects nationwide, positioning HPL as a pivotal player in driving the government’s development agenda.

Government initiatives such as smart metering under the RDSS scheme have opened up substantial opportunities for HPL to expand its footprint across these critical segments. Through strategic alignment with these initiatives, HPL has provided smart metering solutions for various urban and rural electrification projects. By proactively building its order book and expanding its market share, the Company is well-prepared to harness the potential for growth presented by India’s changing energy and infrastructure landscape.

Mr. Gautam Seth, Joint Managing Director & CFO of HPL Electric & Power Ltd., commented on the company’s financial performance, saying,

 “The cornerstone of our success this year so far has been our agile response to the fast-transforming power sector, coupled with secular growth across our metering and consumer and industrial segments. This comprehensive growth is supported by the trust AMISPs have in our metering solutions and products.

Our strategic emphasis on cost competitiveness and innovation continues to be crucial in winning and securing large orders. Our current order book, which stands at over ₹2,400 crore, is a testament to the market’s confidence in our capabilities.

Moreover, our ongoing efforts to expand our channel network are aiding us in reaching new markets and customers, further enhancing our growth prospects and market presence. Looking ahead, we expect a good fourth quarter, setting a solid foundation as we enter into the next financial year.”

About HPL Electric and Power Ltd

HPL is an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including metering solutions, switchgear, lighting equipment, wires and cables, catering to consumer and institutional customers in the electrical equipment industry. HPL had the largest market share in India’s electricity energy meters market, with one of the most comprehensive portfolios of meters in India and the fifth largest market share for LED lamps during the corresponding period (Source: Frost & Sullivan Report, February 2016). HPL’s manufacturing capabilities are supported by an extensive sales and distribution network with a pan-India presence. HPL currently manufactures and sells its products under the umbrella brand ‘HPL’, registered in India since 1975.

For further information on HPL Electric & Power Limited, see www.hplindia.com

Safe Harbor

This release contains statements that contain “forward-looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to HPL Electric and Power Ltd’s future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties, and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental, and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. HPL Electric and Power Ltd undertake no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.

 

View original content:https://www.prnewswire.com/in/news-releases/hpl-electric–power-ltd-reports-impressive-financial-growth-in-q3fy24–9mfy24–revenue-and-profits-rise-amidst-expanding-market-share-302063889.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

/C O R R E C T I O N — Applied Intuition, Inc./

Published

on

By

In the news release, Applied Intuition Collaborates with Heidelberg Materials to Advance Innovation in Quarry Operations with Autonomous Haulage Fleets, issued 30-Apr-2026 by Applied Intuition, Inc. over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Applied Intuition Collaborates with Heidelberg Materials to Advance Innovation in Quarry Operations with Autonomous Haulage Fleets

Deployment brings intelligent, vehicle-based autonomy to Australia, establishing a new operating model for construction and mining environments.

SUNNYVALE, Calif., April 30, 2026 /CNW/ — Applied Intuition, Inc., a leader in physical AI, today announced its collaboration with Heidelberg Materials, one of the world’s largest integrated manufacturers of building materials and solutions, to deploy autonomous haulage systems for Heidelberg Materials’ quarry operations, starting at a site in Australia.

Applied Intuition will provide its Self-Driving System (SDS) for Construction to support autonomous haulage operations within Heidelberg Materials’ fleet of construction and mining vehicles in Australia. The deployment marks the next real-world application of Applied Intuition’s autonomy platform in industrial environments. Upon successful completion, it will support the expansion of autonomous operations within Heidelberg Materials’ broader Australian network.

The collaboration also challenges the standard industry model. While autonomy solutions traditionally target the largest quarry sites, this system is designed for smaller operations, including those running just two 40-ton trucks, making it deployable across quarry sites of varying size worldwide.

“No two quarry or construction sites operate the same way, with different layouts, constraints and economics,” said Qasar Younis, co-founder and CEO of Applied Intuition. “We’ve built our platform to adapt to that reality. This partnership shows we can take the same core system used in large mining operations and apply it to smaller, infrastructure-constrained quarry sites, scaling it across hundreds of unique locations.”

For Heidelberg Materials, the partnership is aimed at enhancing safety and operational performance. It also reflects the need for an autonomy solution that can operate at large sites and smaller ones too, whereas traditional autonomous haulage systems are often too infrastructure-heavy or costly to scale. For Applied Intuition, it serves as a proof point that its autonomy platform is designed not just for one-off deployments, but for global scale across construction, quarry and mining environments of any size.

Applied Intuition’s system runs directly on the vehicle, with integrated perception, decision-making and safety systems onboard, enabling reliable operation without constant connectivity or heavy site infrastructure.

The collaboration builds on Applied Intuition’s growing presence in construction and mining autonomy and reinforces its broader physical AI strategy. The same core platform has already been deployed in other industries, including trucking and defense, with learnings from each domain contributing to continuous system improvements. Applied Intuition’s SDS platform strategy also enables the company to bring technologies proven in other domains into construction and mining, helping accelerate development and deployment.

Through this project, Applied Intuition demonstrates the range of its autonomy platform, from some of the largest mining trucks in the world to smaller quarry vehicles operating in constrained, lower-infrastructure environments. Together, these deployments highlight the company’s approach to building scalable autonomy for construction and mining from the ground up.

To learn more about how Applied Intuition is building the future of construction autonomy, visit applied.co.

About Applied Intuition
Applied Intuition, Inc. is powering the future of physical AI. Founded in 2017 and now valued at $15 billion, the Silicon Valley company is creating the digital infrastructure needed to bring intelligence to every moving machine on the planet. Applied Intuition services the automotive, defense, trucking, construction, mining and agriculture industries in three core areas: tools and infrastructure, operating systems and autonomy. Eighteen of the top 20 global automakers, as well as the United States military and its allies, trust the company’s solutions to deliver physical intelligence. Applied Intuition is headquartered in Sunnyvale, California, with offices in Washington, D.C.; San Diego; Ft. Walton Beach, Florida; Ann Arbor, Michigan; London; Stuttgart; Munich; Stockholm; Gothenburg, Sweden; Bangalore; Seoul; and Tokyo. Learn more at applied.co.

Correction: An earlier version of this release incorrectly stated the location of the site noted in the first paragraph.

View original content:https://www.prnewswire.com/news-releases/applied-intuition-collaborates-with-heidelberg-materials-to-advance-innovation-in-quarry-operations-with-autonomous-haulage-fleets-302758224.html

SOURCE Applied Intuition, Inc.

Continue Reading

Technology

MOREH Demonstrates Production-Ready LLM Inference on Tenstorrent Galaxy, Achieving DGX A100-Class Performance with Improved Cost Efficiency

Published

on

By

Reduces HBM Costs with GPU–Tenstorrent Heterogeneous Distributed Serving
First unveiled at Tenstorrent’s launch event, TT-Deploy, in San Francisco on May 1

SANTA CLARA, Calif., May 1, 2026 /PRNewswire/ — Moreh, an AI infrastructure software company, led by CEO Gangwon Jo, announced that it has successfully validated LLM inference performance on the Tenstorrent Galaxy Wormhole system using its proprietary ‘MoAI Inference Framework.’

Based on tests across leading Mixture-of-Experts (MoE) models—including GPT-OSS, Qwen, GLM, and DeepSeek—Moreh achieved LLM inference performance on Tenstorrent Galaxy Wormhole matching or surpassing NVIDIA DGX A100-class systems, demonstrating a compelling alternative to conventional GPU-centric AI infrastructure.

Moreh also improved cost efficiency by implementing a disaggregated serving architecture that combines GPUs with Tenstorrent Wormhole chips. By utilizing Tenstorrent processors as dedicated prefill accelerators, the company reduced reliance on high-cost HBM and lowered overall infrastructure costs.

The results were first unveiled at Tenstorrent’s launch event, TT-Deploy, held on May 1 in San Francisco.

As a strategic partner of Tenstorrent and a major external contributor to Metalium, Moreh showcased a live LLM inference demo at the event. Building on its experience operating AMD GPU-based production environments in real-world data centers, the company presented its latest technical achievements in ‘Production-Ready LLM Inference on Tenstorrent Galaxy.’

MoAI Inference Framework is a disaggregated inference solution that enables unified operation of heterogeneous GPUs and NPUs—including NVIDIA, AMD, and Tenstorrent—within a single cluster. This allows enterprises to build flexible AI infrastructure strategies without vendor lock-in.

Moreh CEO Gangwon Jo stated, “Achieving production-grade LLM inference performance and stability on Tenstorrent-based systems marks a significant milestone,” and added, “We will continue to enhance performance through deeper optimization across heterogeneous architectures and closer integration with Tenstorrent NPUs.”

Moreh is developing its own core AI infrastructure engine and, through its foundation LLM subsidiary Motif Technologies, is building end-to-end capabilities spanning both infrastructure and model domains. Simultaneously, the company is making its mark in the global market through collaborations with key partners such as AMD, Tenstorrent, and SGLang.

View original content to download multimedia:https://www.prnewswire.com/news-releases/moreh-demonstrates-production-ready-llm-inference-on-tenstorrent-galaxy-achieving-dgx-a100-class-performance-with-improved-cost-efficiency-302760562.html

SOURCE Moreh

Continue Reading

Technology

US Startup PerZeption Inc. Announces Collaboration with Alcon Research

Published

on

By

BOSTON, MA, May. 1, 2026 /PRNewswire/ — Advancements in vision correction evaluation require methods that offer both precision and efficiency in detecting clinically meaningful visual differences. Addressing this need, PerZeption is set to present new data validating its AIM+ CSF modeling technology at the Association of Research in Vision and Ophthalmology (ARVO) annual meeting.

Attendees are invited to learn more about this innovative approach during the poster session on May 4, 2026, from 11:15 AM to 1:00 PM, at posterboard #0941.

“We are very excited to collaborate with Alcon, one of the largest companies within the Ophthalmology sector worldwide. “, Dr. Jan Skerswetat said. “The results, presented by Dr Derek Nankivil, indicate that our technology enables rapid, repeatable, and highly sensitive assessment of contrast vision.”

The abstract, titled ‘AIM+ CSF modeling enables efficient detection of clinically meaningful visual differences,’ outlines how PerZeption’s technology supports sensitive, low-burden visual assessment for vision correction evaluation. Data indicates that with approximately six adaptive displays of stimuli and two repeats, studies show around 20 subjects can achieve 90% power to detect a 1 JND (Just Noticeable Difference) change in AULCSF (Area Under the Log Contrast Sensitivity Function). This research also demonstrates AIM+ CSF’s stable repeatability in less than 3 minutes, absence of bias, and robust performance, validating its role as an effective tool for objective visual performance evaluation.

This joint effort highlights a shared dedication to advancing ophthalmology research and developing precise tools for visual assessment. The ARVO annual meeting serves as the world’s foremost event for ophthalmology research, offering a vital platform for sharing scientific breakthroughs and fostering dialogue within the global vision science community.

“In addition to all the exciting research presentations that leverage PerZeption technology at this years’ ARVO meeting, we are also proud to be showcasing PerZeption’s battery of functional tests at our booth, #4027.” Dr. Skerswetat added and noted that there will be opportunities to try out our technology.

This presentation at ARVO represents a significant step in the validation and recognition of PerZeption’s contributions to advanced visual assessment technologies.

About PerZeption Inc
PerZeption delivers vision testing with a rapid, self-administered, and adaptive psychophysical platform delivered via cloud-based software on standard tablets or all-in-one computers. Our flagship platform, Angular Indication Measurement (AIM), enables testing of over 20 visual functions. Our novel approach equips researchers and clinicians with a comprehensive range of visual functions and introduces new tests for which there are no currently available devices. We reduce chairtime. Self-administered tests on a single device in combination with proprietary methods that rapidly assess vision, reduce user’s burden and require minimal training or space, unlike bulky, specialized single-use devices. Finally, cloud-based delivery supports secure in-clinic and remote testing, ensuring consistent, trackable results for clinicians and pharmaceutical companies. 

View original content:https://www.prnewswire.com/news-releases/us-startup-perzeption-inc-announces-collaboration-with-alcon-research-302760563.html

SOURCE PerZeption

Continue Reading

Trending