Siemens drops in early trade after Q4 earnings

Siemens lost 0.95% to Rs 905.50 at 9:17 IST on BSE after net profit rose 192.77% to Rs 436.78 crore on 0.67% decline in total income to Rs 3250.29 crore in Q4 September 2014 over Q4 September 2013.

The result was announced after market hours yesterday, 25 November 2014.

Meanwhile, the S&P BSE Sensex was down 6.47 points or 0.02% at 28,331.58.

On BSE, so far 7,627 shares were traded in the counter as against average daily volume of 49,000 shares in the past two weeks.

The stock hit a high of Rs 920 and a low of Rs 899.85 so far during the day.

Siemens' net profit rose 211% to Rs 603.18 crore on 5.45% decline in total income to Rs 10766.44 crore in the year ended September 2014 over the year ended September 2013.

For the financial year ended 30 September 2014 (FY 2014), Siemens registered new orders of Rs 10323.80 crore compared to Rs 10957.30 crore in the financial year ended 30 September 2013 (FY 2013). Sales stood at Rs 10448.30 crore in FY 2014, compared to Rs 111452 crore in FY 2013. Volumes registered a decline of 6% as infrastructure spending continued to be sluggish and high interest rates continued to impact fresh capital expenditure projects in the manufacturing sector.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens said, "Our volumes reflect the challenging macro-economic scenario that we have gone through in 2014, while our improved profitability reflects that the cost optimization and productivity measures introduced in 2013 have started to bear fruit."

Siemens' board of directors at its meeting held yesterday, 25 November 2014, recommended a dividend of Rs 6 per share for FY 2014.

Siemens, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in lndia. Siemens in India including Siemens comprises 13 legal entities (as of 30 June 2013), is a leading powerhouse in electronics and electrical engineering. It operates in the core business areas of industry, infrastructure & cities, energy and healthcare. It has a nation-wide sales and service network, 23 manufacturing plants and employs about 18,500 people.

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