Siemens Net jumps 10 times to Rs 2,466 cr in Jul-Sept quarter

Engineering firm Siemens' standalone net profit jumped over 10 times to Rs 2,466.95 crore in the quarter ended on September 30, 2016.
The company had posted a net profit of Rs 219.13 crore for the quarter ended September 30, 2015, Siemens Ltd said in a BSE statement.
The company stated that during the financial year ended on September 30, 2016, it completed sale and transfer of its healthcare undertaking, as a going concern on a slump sale basis, for a sale consideration of Rs 3,050 crore, to Siemens Healthcare Private Ltd, a subsidiary of Siemens AG.
The Healthcare Undertaking contributed Rs 1,251.34 crore to the total income from operations of the company up to June, 30, 2016.

For the quarter ending September, total income of the company decreased to Rs 3,158.84 crore from Rs 3,340.23 crore for the quarter ended September 30, 2015.
On consolidated basis, the Group posted a net profit after tax of Rs 2873.65 crore for the year ended September 30, 2016 against Rs 1,174.42 crore for the year ended September 30, 2015.

Total income increased to Rs 10,999.36 crore for the year ended September 30, 2016 from Rs 10723.14 crore for the year ended September 30, 2015.
Siemens Ltd Managing Director and Chief Executive Officer Sunil Mathur said, "The company delivered strong order growth which will improve revenue growth in the years ahead. Major orders came from Railways and transmission projects, though all our businesses performed well in the current market conditions."

The company said that for financial year 2016 ended September 30, 2016, Siemens registered 19.4 per cent higher new orders at Rs 12,064.02 crore compared to Rs 10,107.49 crore in financial year 2015.
In a separate filing, Siemens said that its Board today recommended a final dividend of Rs 6 per Equity Share of Rs 2 each (300 per cent) for the Financial Year ended September 30, 2016, which together with the Special Dividend (Interim Dividend) of Rs 27.50 per equity share paid in August 2016, aggregates to a dividend of Rs 33.50 per equity share for FY 2015-16.