Siemens posts Rs 160 crore as net profit for third quarter of this fiscal

NEW DELHI: Siemens, leading engineering and technology solutions provider, today posted Rs 160 crore standalone net profit for the third quarter of this fiscal, up 43% compared to the year-ago period.

The company had posted a net profit after tax of Rs 111.30 crore for the quarter ended December 31, 2015, it said in a BSE filing today.

According to the statement, total income increased from Rs 2,440 crore for the quarter ended December 31, 2015 to Rs 2,458.77 crore a year earlier.

Commenting on the results, Managing Director and Chief Executive Officer, Siemens Ltd, Sunil Mathur said, “While our revenue growth comes out of our backlog, growth in our order volumes comes from small and medium sized orders primarily in the railways and energy transmission segments. Our growth, however, will depend on large public tenders in these segments.”

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It said that Siemens focuses on the areas of electrification, automation and digitalisation.

The company is one of the producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and also supplier of healthcare equipment.

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Siemens has 21 factories located across India and a nation-wide sales and service network. Siemens Ltd, in which Siemens AG holds 75 per cent of the capital, is the flagship listed company of Siemens AG in India.

As of September 30, 2016, Siemens Ltd had revenue of Rs 10,808.9 crore and 9,580 employees.

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