Siemens on Thursday reported 38.7 per cent rise in its net profit to ₹471.1 crore for the quarter ended March 2023 quarter. This is against a net profit of ₹340 crore in the corresponding quarter last fiscal.
The company follows October-September financial year.
The revenue from operations rose by 14.3 per cent to ₹4,857.8 crore in the quarter under review from ₹4,230 crore in the tear-ago period.
The operating profit, calculated as earnings before interest and tax, depreciation and amortization (EBITDA) was up by 17.2 per cent to ₹621.2 crore as compared to ₹530 crore while the margins came in at 12.8 per cent.
Siemens also booked new orders of ₹31,151 crore in the quarter, which included an order of ₹25,455 crore for the 9,000 HP (horsepower) locomotive project.
Consequently, it stated that the new orders in the quarter under review grew by 8.1 per cent on a comparable basis.
“We continue to see substantial tendering by the Indian Railways and continued capex expansion in infrastructure led by Central Government spending. Private sector capex is mainly in the steel, cement, data centres, intralogistics and e-vehicles market segments,” said Sunil Mathur, Managing Director and Chief Executive Officer of Siemens.
The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee (NRC), has re-appointed Mr. Sunil Mathur as the Managing Director and Chief Executive Officer of Siemens for a further period of five years with effect from 1 January, 2024.
The board has also re-appointed Dr. Daniel Spindler as the Executive Director and Chief Financial Officer of the company for a further period of one year with effect from 1 August, 2023.
On BSE, Simens stock price closed at ₹3,806.60 apiece up by 2.53 per cent.
