Siemens' December quarter PAT dips by 82% to Rs 114 cr

Revenue rises by 6% to Rs 2,265 cr

Siemens Ltd's profit after tax (PAT) dipped 82 per cent to Rs 114 crore for the first quarter of 2015-16, ended December 31, 2015, against Rs 634 crore for the corresponding period the previous year. However, the PAT after considering exceptional items would be lower, at Rs 106 crore. The company follows a September 30 year ending.

Exceptional items for the quarter and year ended September 30, 2015 consisted of expenditure on removal of ceiling for gratuity payout to employees and reversal of impairment loss recognised and other consequent provisions on the company's wind power-manufacturing facility. However, in Q1 of 2014-15 (December 31, 2014), the company recorded an exceptional gain after taxes of Rs 528 crore from the sale of its metal technology business.

The company registered six per cent higher revenues at Rs 2,265 crore against Rs 2,141 crore. Further, revenue from continuing operation increased 14 per cent to Rs 2,265 crore against Rs 1,990 crore.

The company MD and CEO Sunil Mathur said, "Our order intake increased by 65 per cent with transmission & distribution and Railways segments contributing significantly. The company is on course to fulfill its strategy of profitable growth. While government spending has begun in some segments, there has been limited capex spending from the private sector."