Siemens Oct-Dec net profit up 19.7 pc at Rs 228 cr

Siemens Wednesday reported a 19.7 per cent year-on-year rise in its net profit at Rs 228 crore for the quarter ended December 2018, mainly due to higher revenues.

The company's net profit for the quarter ended December 2017 stood at 190.5 crore, a company statement stated.

The leading electrical and automation solution provider follows October to September financial year format.

According to the statement, Siemens' total income increased to Rs 2,894.8 crore in the October-December quarter from Rs 2,500 crore in the year-ago period.

While new orders of the base business (less than Rs 100 crore) grew by 16 per cent in the quarter, the overall new orders grew by 4.1 per cent to Rs 3,391 crore, compared to Rs 3,257 crore in the year-ago period, it said.

"Our businesses with industrial and utility customers have grown well and we continue to receive very positive responses to our digitalisation solutions," Managing Director and Chief Executive Officer Sunil Mathur said in the statement.