Siemens jumps on reporting Q3 PAT at Rs 139 cr

Siemens rallied 2.21% to Rs 2,105 after the company's consolidated net profit stood at Rs 138.90 crore in Q3 June 2021 compared with net loss of Rs 1.90 crore in Q3 June 2020.

Consolidated net sales surged 147.2% to Rs 2,880.90 crore in Q3 June 2021 from Rs 1,165.20 crore in Q3 June 2020. Pre-tax profit was at Rs 195 crore in Q3 June 2021, steeply higher than pre-tax profit of of Rs 13.7 crore in Q3 June 2020.

For the third quarter of Financial Year 2021 ended 30 June 2021, Siemens registered a standalone revenue from continuing operations of Rs 2,658 crore, against Rs 1,149 crore in the same period last year. Profit after tax from continuing operations grew to Rs 162 crore from Rs 10 crore in the same period last year.

New orders from continuing operations stood at Rs 4,341 crore as against Rs 1,767 crore in the same period last year. The company's order backlog stands at a healthy Rs 14,267 crore, which is the highest ever.

The consolidated new orders for the third quarter of Financial Year 2021 ended 30 June 2021, stood at Rs 4,584 crore.

Sunil Mathur, the managing director (MD) and chief executive officer (CEO) of Siemens, said, "Siemens 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. The integration activities of our recently acquired C&S business are on track, and we are beginning to realize the first synergy benefits. Increasing the pace of vaccination is critical for economic activity in the country to pick up."

Siemens focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process, discrete & hybrid manufacturing industries.It 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.

Powered by Capital Market - Live News