Siemens posts multiple jump in PAT to Rs 162 crore for June quarter

Siemens Ltd on Tuesday said its standalone profit after tax (PAT) saw a multifold jump to Rs 162 crore during the quarter ended June 30, 2021, boosted by higher revenues.

In the year-ago quarter, the company had clocked Rs 10-crore "profit after tax from continuing operations", Siemens Ltd said in a statement.

The company follows October-September as a financial year.

Siemens Ltd's revenue from continuing operations during April-June 2021 also rose to Rs 2,658 crore, from Rs 1,149 crore in the year-ago period.

It further said new orders from continuing operations stood at Rs 4,341 crore, against Rs. 1,767 crore a year ago.

Siemens Managing Director and CEO Sunil Mathur said, "Siemens Ltd has delivered yet another solid performance this quarter despite the challenges of the second wave of the pandemic. All our business segments recorded order income growth over 2019 levels, and we have a very healthy order backlog."

He added that increased pace of vaccination is critical for economic activity in the country to pick up.

Siemens offers broad expertise across the entire energy value chain, along with a comprehensive portfolio for utilities, independent power producers, transmission system operators, the oil and gas industry, and other energy-intensive industries.