Siemens gains after strong Q2 results

Siemens gained 2.36% to Rs 757.30 at 09:24 IST on BSE after net profit jumped 194.7% to Rs 88.27 crore on 8.6% fall in net sales to Rs 2657.74 crore in Q2 March 2014 over Q2 March 2013.

The company announced Q2 results after market hours on Friday, 25 April 2014.

Meanwhile, the BSE Sensex fell 6.73 points, or 0.03%, to 22,681.34

On BSE, so far 12,837 shares were traded in the counter, compared with an average volume of 46,165 shares in the past one quarter.

The stock hit high of Rs 770 and low of Rs 755 so far during the day. The stock hit a 52-week high of Rs 776.05 on 10 April 2014. The stock hit a 52-week low of Rs 414.05 on 3 September 2013.

The large-cap company has an equity capital of Rs 71.22 crore. Face value per share is Rs 2.

Siemens registered new orders of Rs 2620.10 crore in Q2 March 2014 compared to Rs 2806.50 crore in Q2 March 2013.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens, said, The volumes are stable when viewed in the backdrop of the macro-economic fundamentals. The improved profitability is a clear indication that internal measures aimed at increasing competitiveness have begun to take effect.

Siemens, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India, comprising 13 legal entities (as of 31 December 2013), is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs 12000 crore. 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 18,000 people.

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