FINWIRES · TerminalLIVE
FINWIRES

IHI's Profit Soars 361% in Fiscal Q1 on Strong Aerospace, Defense Sector Demand

By
IHI's Profit Soars 361% in Fiscal Q1 on Strong Aerospace, Defense Sector Demand

IHI (TYO:7013) achieved record earnings for the first quarter of the fiscal year, driven by expanding demand across its aerospace and defense sectors.

Profit attributable to owners soared 361% to 53.5 billion yen from 11.6 billion yen in the previous year, with earnings per share climbing to 50.48 yen from 10.95 yen a year earlier, according to the Tokyo-based heavy industries group's earnings report published Thursday.

Revenue climbed 11% to 374.5 billion yen from 337.8 billion yen, driven primarily by strong activity and expansion in civil aero engines, defense programs, and nuclear energy products.

Sales performance for IHI's vehicular turbochargers and carbon solutions presented mixed results. While both segments experienced a decline in sales volume and new orders, higher selling prices for vehicular turbochargers helped lift segment revenue.

Carbon solutions orders eased due to a high-base rebound from large-scale projects secured in the previous year, though the division's ongoing lifecycle business cushioned overall revenue.

For the full fiscal year ending March 31, 2027, the company upgraded its earnings outlook, now expecting attributable profit to grow 6.8% to 172 billion yen, or 161.67 yen per share, up from its previous forecast for a 2.5% growth.

Revenue is now predicted to jump 12% to 1.84 trillion yen, also better than the previous outlook of an 11.4% increase.

IHI maintained its annual dividend forecast for fiscal 2027 at 23 yen.

Related Articles

ONGC's Attributable Profit Climbs as Upstream Business Powers Fiscal Q1
US Markets

ONGC's Attributable Profit Climbs as Upstream Business Powers Fiscal Q1

Oil and Natural Gas (NSE:ONGC, BOM:500312) reported higher attributable profit in the fiscal first quarter as stronger earnings from its upstream business offset a sharp loss at subsidiary Hindustan Petroleum or HPCL (BOM:500104, NSE:HINDPETRO).Profit attributable to owners of the parent rose 21% to 119 billion rupees in the quarter ended June 30 from 98 billion rupees a year earlier, according to the company's earnings release on Tuesday.Diluted earnings per share increased to 9.46 rupees from 7.79 rupees a year earlier. Consolidated revenue increased 26% to 2.05 trillion rupees from 1.63 trillion rupees.Consolidated net profit, however, fell 43% to 65.5 billion rupees from 115.5 billion rupees, reflecting HPCL's losses.ONGC said HPCL posted a consolidated net loss of 122.7 billion rupees during the quarter, primarily due to under-recoveries on petroleum products following the sharp rise in crude oil prices triggered by the West Asia crisis.The company added that stronger performances from ONGC Videsh and Mangalore Refinery and Petrochemicals helped support the group's overall results."Projects of more than 400 billion rupees [are] currently under implementation" in the Western Offshore region, ONGC said.It expects the benefits to "progressively materialize from FY 2027-28 onwards, leading to enhanced production, improved recovery, and sustained value creation in the years ahead," the statement added.Standalone crude oil production edged down to 4.45 million metric tons from 4.68 million metric tons a year earlier, while natural gas production slipped to 4.76 billion cubic meters from 4.85 billion cubic meters.The company attributed the decline to reservoir complexities in the KG-98/2 block, adverse weather conditions in the Western Offshore, and temporary well shutdowns linked to major project commissioning.

BOM:500104BOM:500312NSE:HINDPETRONSE:ONGC
SK Telecom's Quarterly Profit Quintuples on AI Data Center Growth, Cost Relief
US Markets

SK Telecom's Quarterly Profit Quintuples on AI Data Center Growth, Cost Relief

SK Telecom's (KRX:017670) attributable net income in the second quarter surged 425% year over year on the back of easing costs from a 2025 cybersecurity breach and strong growth in its artificial intelligence data center businesses.Net income more than quintupled to 470.6 billion won from 89.6 billion won a year earlier, according to its earnings statement published Wednesday.Basic earnings per share climbed to 2,186 won from 398 won a year earlier.Operating income surged 67% on year to 566 billion won, which SK Telecom attributed to "profitability‑focused management" and positive effects from last year's USIM replacement costs.The company offered free USIM card replacements from April 2025 to all subscribers to prevent potential identity theft or financial fraud resulting from a data breach caused by an unidentified server cyberattack. The company was fined a record 134 billion won in connection with the breach.Meanwhile, revenue in the second quarter edged up 0.47% to 4.359 trillion won from 4.339 trillion won. The almost-flat movement was due to a 1.9% decline in mobile service revenue amid a drop in subscribers. This was offset by 3.6% revenue growth in SK Telecom's Broadband unit on strong data center demand.The company's AI data center business continued to grow, with revenue climbing 92.5% year over year to 136.2 billion won on higher utilization and increased revenue contribution from its submarine cable operations.SK Telecom launched a new unit called SK Hyper last month to operate its data center business."Going forward, we will make every effort to play a leading role in enabling Korea to emerge as an AI infrastructure hub in Asia," said SK Telecom CFO Park Jong-seok.The company declared a quarterly dividend of 830 won per share, unchanged from the first quarter.

KRX:017670
New Zealand Jobless Rate Rises to 11-Year High Amid Fuel Shock
US Markets

New Zealand Jobless Rate Rises to 11-Year High Amid Fuel Shock

New Zealand's jobless rate rose to an 11-year high in the June quarter, beating estimates and rising to its highest since 2015.The unemployment rate in the country rose 5.6% in the June quarter, up 0.2 percentage points from the March quarter and up 0.4 percentage points from the June quarter of 2025.The seasonally adjusted underutilisation rate, a broader measure of untapped labor market capacity than unemployment, rose to 13.8%, up from 12.9% in the March quarter.The seasonally adjusted employment rate was 66.7% in the June quarter, unchanged from the previous quarter.Westpac, which expected a 5.4% rise in the June quarter unemployment rate, said the details are mixed from the Reserve Bank of New Zealand's perspective, even if the employment measures were mixed.On average, they support Westpac's expectation of soft growth in activity over the quarter.The unemployment rate has also beaten ANZ's estimate of a 5.5% rise, as the hiring pause due to the oil shock affected more jobs than forecasters expected.This comes after Stats NZ's data released last week said that the cost of living for the average New Zealand household rose 3.2% in the 12 months to the June quarter, while the seasonally adjusted number of filled jobs rose 0.1% month on month to 2.4 million in June, following a 0.2% increase in May.

^NZ50