Forex losses hit Siemens net profit

Forex losses hit Siemens net profit

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.

For the year ended 30 September, the company posted a 2% jump in net profit at 845crore on a sales growth of 28% to 11,940 crore over a year earlier. During the year, both new orders and the order book remained stable at 12,290 crore and 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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