Siemens India Quarterly Results
Siemens net rose 18.4% in Sep quarter to Rs 330 cr on higher revenues
Siemens on Tuesday reported an 18.4 percent increase in consolidated net for the quarter to September at Rs 330.6 crore driven by higher revenue. The company, which follows the October-September fiscal year, said revenue from operations increased 5.7 percent to Rs 4,018 crore during the fourth quarter. For the full year, its net income jumped 21.6 percent to Rs 1,087 crore on an revenue of Rs 13,323.1 crore, up 8.38 percent over the previous year. "The overall performance was very satisfactory despite a challenging market environment. Based on our visibility, we see muted capex spending in the next couple of quarters by both public and private sector companies," Siemens managing director Sunil Mathur said. Despite the slowdown, its gas & power and digital industries businesses along with its smart infrastructure division, performed well during the year, and Mathur credited this for the initiatives taken across the verticals. "Our digitalisation initiatives continue .
 "Siemens net rose 18.4% in Sep quarter to Rs 330 cr on higher revenues")
Siemens March quarter results: Doubling of new orders lends comfort
After ABB India's results, the share price of Siemens India had rallied about six per cent since Monday, in anticipation of good March quarter results. These did bring much needed visibility on order inflow and implementation but the numbers appear distorted due to adoption of the new IndAS accounting norms.The March quarter (the second or Q2 for Siemens India, as it follows an October to September accounting year) saw order inflow increase by 96 per cent over a year before to Rs 4,725 crore, including an Rs 1,682 crore one from Power Grid. The current order book is estimated at Rs 15,525 crore and provides earnings comfort of 18 months.While this is on the positive side, there is some surprise on earnings. Despite revenue for continuing operations growing at 24 per cent to Rs 2,983 crore, the net profit growth remained flat at Rs 186.3 crore over the year-before period. A large part of the earnings miss could be attributed to a nearly 50 per cent year-on-year increase in other ...
