Siemens slips after Q4 PAT declines 3% YoY

Siemens declined 4.24% to Rs 2,180.40 after the company reported a 3% decline in standalone net profit from continuing operations to Rs 323 crore in quarter ended September 2021 from Rs 333 crore posted in the same quarter last year.

Siemens said profitability was dented due to increase in raw material and logistics costs. The company registered a standalone revenue of Rs 3,941 crore in quarter ended September 2021, rising by 15.2% over the corresponding quarter of the previous year, driven largely by the digital industries, energy and smart infrastructure businesses.

For the Financial Year 2021, Siemens Limited reported a 45.8% rise in net profit to Rs 1,103 crore on a 33.1% increase in revenue to Rs 12,755.90 crore as compared to previous financial year. Siemens said that its order backlog stood at an all-time high of Rs 13,520 crore.

Sunil Mathur, MD and CEO of Siemens said, We are delighted with the overall performance of the Company. Our businesses have performed exceedingly well under very challenging conditions. We are now at pre COVID-19 volume levels with a record Order Backlog. As Government investment in infrastructure continues and capacity utilization levels increase, we believe tendering for private sector Capex will pick up in the months ahead. This will provide further impetus to our continued strategy of profitable growth.

Meanwhile, the board of directors of the company recommended a dividend of Rs 8 per equity share for the financial year ended 30 September 2021.

Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.

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