 "Siemens")
Siemens on Wednesday reported a 22 per cent rise in consolidated net profit at Rs 614.30 crore for the third quarter (Q3) of the financial year 2024-25 (FY25) from Rs 505.40 crore reported during the same period last year.
Consolidated revenue from operations fell 3 per cent to Rs 3,587.20 crore in the October-December quarter from Rs 3,709.50 crore a year ago.
On the operational front, earnings before interest, taxes, depreciation, and amortisation (Ebitda) declined 11.5 per cent year-on-year (Y-o-Y) to Rs 401 crore, compared to Rs 453 crore in the year-ago quarter. The Ebitda margin also contracted to 11.2 per cent from 12.2 per cent last year.
New orders surged 19.6 per cent Y-o-Y to Rs 4,258 crore, up from Rs 3,560 crore in Q3FY24, indicating strong demand in key business segments.
Managing Director & CEO Sunil Mathur attributed the decline in revenue to slower private sector capital expenditure and normalising demand in the digital industries business. However, he noted that the Smart Infrastructure and Mobility businesses continued to expand, driven by government-led capital expenditure.
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“Our Smart Infrastructure and Mobility businesses, which are largely linked to government spending in capex, continued to grow profitably. However, our revenue and, consequently, also our profit from operations for this quarter were impacted by a slowdown in short-cycle private sector capex spending and the normalisation of demand in our Digital Industries business,” Mathur said.
The energy business remained a bright spot for Siemens, supported by strong demand for transmission products and solutions. It also benefited from a Rs 98 crore one-time gain during the quarter, which helped offset some of the pressure on margins.
Mathur expressed optimism about the company's future growth, stating that the recent Union Budget’s emphasis on infrastructure development and support for manufacturing would have a positive impact on Siemens’ business in the coming quarters.
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