Siemens tumbles after weak Q4 earnings

Siemens fell 4.45% to Rs 935 at 11:14 IST on BSE after net profit fell 55.24% to Rs 279.20 crore on 25.30% increase in total income to Rs 4015.60 crore in Q4 September 2018 over Q4 September 2017.

The result was announced on 18 November 2018.

Meanwhile, the S&P BSE Sensex was up 115.54 points, or 0.33% to 35,572.70.

On the BSE, 65,000 shares were traded in the counter so far compared with average daily volumes of 32,000 shares in the past two weeks. The stock had hit a high of Rs 995.55 and a low of Rs 930 so far during the day. The stock hit a 52-week high of Rs 1,330.10 on 23 January 2018. The stock hit a 52-week low of Rs 841 on 22 October 2018.

For the fourth quarter of financial year 2018, new orders grew by 38.1% to Rs 3720 crore compared to Rs 2694 crore in the fourth quarter of financial year 2017. New orders for the financial year 2018 were Rs 12740 crore. The order backlog as of 30 September 2018 stood at Rs 12352 crore.

Siemens focuses on the areas of electrification, automation and digitalisation. Siemens, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India.

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