Siemens reports Rs 436.78 cr net profit for Jul-Sept qtr

Siemens reports Rs 436.78 cr net profit for Jul-Sept qtr

Siemens reports Rs 436.78 cr net profit for Jul-Sept qtr

Power automation firm Siemens today reported nearly two-fold jump in net profit at Rs 436.78 crore for the quarter ended September 30, 2014.

The company had posted a net profit of Rs 149.19 crore in the same period last year.
During the period, Siemens registered new orders of Rs 10,323.8 crore compared to Rs 10,957.3 crore, last year.

Sales stood at Rs 10,448.3 crore during the period as compared to Rs 11,145.2 crore in July-September quarter in 2013.

"Our volumes reflect the challenging macro-economic scenario that we have gone through in 2014, while our improved profitability reflects that the cost optimisation and productivity measures introduced in 2013 have started to bear fruit," Sunil Mathur, Managing Director and Chief Executive Officer, Siemens said.

Total income of the company decreased to Rs 3,187.93 crore from Rs 3,258.88 crore in the same period last year.

Shares of the company closed at Rs 914.20 apiece, down 2.25 per cent on the BSE