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Forex losses hit Siemens net profit

Forex losses hit Siemens net profit
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First Published: Tue, Nov 22 2011. 11 25 PM IST

Updated: Tue, Nov 22 2011. 11 25 PM IST
Mumbai: India’s Siemens Ltd, a unit of Germany-based Siemens AG, posted a 29% fall in its September quarter net profit, mainly due to foreign exchange losses.
The company reported a net profit of Rs 178 crore ($33.9 million) after sustaining a foreign exchange loss of Rs 159 crore. Net sales posted a 19% rise to Rs 3,559 crore from the same period a year ago.
For the year ended 30 September, the company posted a 2% jump in net profit at Rs 845crore on a sales growth of 28% to Rs 11,940 crore over a year earlier. During the year, both new orders and the order book remained stable at Rs 12,290 crore and Rs 13,920 crore, respectively, the statement added.
Sales in the energy segment, that caters to power generation, distribution and transmission customers among others, rose 42%, while that in the healthcare segment, which sells diagnostic products and imaging products among others, rose 39% during the year ended September, the company said.
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First Published: Tue, Nov 22 2011. 11 25 PM IST
More Topics: Siemens | Forex Loss | Energy | Sales | Revenue |