Siemens 2017-18 revenue up 15%, announces dividend of Rs 7/share

German conglomerate Siemens' India arm on Sunday reported a 14.6 per cent increase in revenue for the financial year ending in September as per the accounting standard adopted, at Rs 12,293 crore, as compared to the revenue of Rs 10,727 crore earned during the previous fiscal.

The Siemens board, following a two-day meeting here, recommended a dividend of Rs 7 per equity share for the fiscal in consideration.

A company statement said new orders for the fiscal 2017-18 were Rs 12,740 crore, while the order backlog as of September 30 stood at Rs 12,352 crore.

The company's profit before tax and exceptional items for the fiscal ending September increased by 26.3 per cent to Rs 1,391 crore, as compared to Rs 1,102 crore for the previous fiscal, it said.

For the fourth quarter of the fiscal in question, new orders grew by 38.1 per cent to Rs 3,720 crore as compared to Rs 2,694 crore on the same account in the same quarter of the previous year.

Revenue reported for the fourth quarter at Rs 3,802 crore grew 24.9 per cent as compared to the same quarter of 2016-17.

Commenting on the results, Siemens Ltd Chief Executive Sunil Mathur said in a statement: "All our divisions have performed well. Order inflows in our base business continue to grow, our profitability and cash from operations is strong and our digitalization agenda continues to gather momentum."

The Siemens Ltd stock closed on Friday at Rs 978.50 a share, up Rs 45.65, or by 4.89 per cent over its previous close on the Bombay Stock Exchange.

--IANS

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