Siemens: Siemens net profit jumps 62% to Rs 516cr in March quarter


NEW DELHI: Siemens on Thursday reported a 61.9 percent increase in consolidated net income from continuing operations to Rs.516 crore in the March quarter, mainly on higher sales.
The company follows the fiscal year from October to September.
“Profit after tax (consolidated net profit) from continuing operations was Rs.516 crore, up 61.9 percent from the same period (January to March 2022) last year,” the company said in a statement.
Consolidated net income from continuing operations was Rs.318.7 crore for the quarter ended 31 March 2022.
For the quarter ended March 31, 2023, the Company recorded revenue from continuing operations of Rs.4,401 crore, an increase of 28.8 percent compared to the same period last year.
The company also booked new orders worth Rs.31,151 crore during the quarter, including an order worth Rs.25,455 crore for the 9,000hp locomotive project.
As a result, order intake in the quarter under review grew by 8.1 percent on a comparable basis.
Sunil mahurSiemens’ Managing Director and Chief Executive Officer said in a statement: “We continue to see significant tenders from Indian Railways and continued expansion of investment in infrastructure, driven by central government spending. The investments of the private sector mainly relate to the areas of steel, cement and data.” Market segments “centres, intralogistics and e-vehicles”.
The Board of Directors also resolved at its meeting to reappoint Sunil Mathur as Managing Director and Chief Executive Officer for a five-year term effective January 1, 2024.
“Mathur is not related to any director of the company. We confirm that Mathur is not disfellowshipped from the office of director by order of the company Securities and Exchange Board of India (Sebi) or any other such authority,” it said.
The Board of Directors also decided on a new appointment Daniel Spindler Appointed CEO and Chief Financial Officer of the Company for one year effective August 1, 2023.
Spindler is not related to any director of the company.
“We confirm that Spindler shall not be disqualified from serving as director by any order of SEBI or any other authority,” it said.

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