Siemens Q4 net nosedives 50% to Rs 219 cr

Siemens Ltd today reported a 49.8 per cent plunge in standalone net profit at Rs 219.13 crore for the fourth quarter ended September 30.
The company had reported a standalone net profit after tax of Rs 436.78 crore in the year-ago period, Siemens Ltd said in a BSE filing.
The standalone net sales of the company increased to Rs 3,231.30 crore from Rs 3,111.27 crore in the year-ago period, it said.
"For Q4 of the financial year 2015 ended September 30, 2015, Seimens Ltd announced a growth in profit after tax before exceptional items by 13.5 per cent to Rs 173.0 crore compared to Rs 152.5 crore for Q4 of FY 2014," the company said in a press release.

The company further said that in Q4 2014, revenue from discontinued operations amounted to Rs 197.7 crore from exceptional items amounted to Rs 366.5 crore.
Consequently, revenue growth from continuing operations in Q4 2015 is 10.9 per cent and growth in profit after tax before exceptional items by 13.5 per cent, the statement said.

Company's Managing Director and Chief Executive Officer Sunil Mathur said, "While we have seen an increase in public sector orders in the railway and energy transmission businesses, we are yet to see increased ordering by other government and public sector agencies."
"Private sector capex spending is also negligible across all verticals. Under these conditions, our results can be considered as satisfactory. We await an increase in demand by both government/public and private sectors in order for us to realise our full potential," Mathur said.

The board of directors of the company has recommended a dividend of Rs 6 per share, and a special dividend of Rs 4 per share "(in view of the large exceptional income during the year), which amounts to a payout of 36 per cent for the financial year ended September 30, 2015," the press release said.
The shares of the company closed at Rs 1,229.50 on BSE, up 1.01 per cent from the previous close.