Siemens surges 10%, hits new high on strong March quarter results

Siemens registered new orders from continuing operations of Rs 3,309 crore, registering a 16.9 per cent increase over the same period last year

Siemens shares, on Wednesday, surged 10 per cent, hitting a new high of Rs 2,143.20, on the BSE in intra-day trade after the company reported a strong set of numbers for the quarter ended March 2021 (Q2FY21), with healthy order book position. The stock surpassed its previous high of Rs 2,055.10, hit on February 24, 2021.

The company’s consolidated net profit after tax from continuing operations grew 91 per cent to Rs 321.90 crore, against Rs 168.30 crore in the corresponding quarter of previous year. Revenue from operations jumped 32 per cent year on year (YoY) to Rs 3,484