Siemens Q1 Net Rises 29% To Rs 20.5 Crore

Siemens Ltd has postea a 29 per cent rise in the net profit at Rs 20.5 crore for the first quarter ended December 31, 2001, compared with Rs 15.9 crore in the corresponding quarter of previous fiscal. Turnover of the company during the quarter rose 17 per cent to Rs 260.3 crore (Rs 222.5 crore).

J Schubert, managing director of Siemens, said, "Improved productivity of our resources and stringent cost-control have significantly contributed to the profitability."

The company has attributed the positive results also to successful implementation of its ongoing programmes aimed at improving the overall resource productivity and increasing market penetration.

The main drivers in increasing the sales volumes of the company were: medical solutions, power transmission and distribution, and automation & drives businesses, according to a company release.

The earnings per share of the company for the quarter stood at Rs 5.61 compared with Rs 4.47 in the corresponding quarter last fiscal. Its interest outgo during the quarter decreased from 39.6 lakh to 10.04 lakh in the previous fiscal.

New-order intake of the company during the quarter was Rs 330.4 crore, up 45 per cent compared with Rs 227.4 crore in the corresponding quarter previous fiscal.

The company release said focussed marketing strategy and efforts to achieve higher cost-productivity and asset effeciency had a positive impact on the results despite a high tax burden.