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Siemens posts Rs 2 cr loss in June quarter due to Covid-19 disruptions

In the year-ago period, the company logged a profit of Rs 250.1 crore, a BSE filing said.

The Siemens logo is seen on a building in Siemensstadt in Berlin, Germany
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The company follows October-September as financial year

Press Trust of India New Delhi

Siemens on Friday reported a consolidated net loss of Rs 1.9 crore for June quarter 2020 mainly due to lower revenues in view of the Covid-19 pandemic.

In the year-ago period, the company logged a profit of Rs 250.1 crore, a BSE filing said.

Total income in the quarter declined to Rs 1,417.9 crore from Rs 3,300 crore in the same period last year.

The company follows October-September as financial year.

Revenue during the quarter fell 59.5 per cent to Rs 1,260 crore from Rs 3,110 crore in the year-ago period, driven by the closure of all factories and project sites on account of