Siemens disappoints, Q1 net profit falls 71% at Rs 71 cr

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Siemens disappoints, Q1 net profit falls 71% at Rs 71 cr

Siemens has reported less than expected numbers in the October-December quarter of FY12. Its net profit fell 71% to Rs 71 crore from Rs 244 crore year-on-year.

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Siemens has reported less than expected numbers in the October-December quarter of FY12. Its net profit fell 71% to Rs 71 crore from Rs 244 crore year-on-year.

Total income too declined 6.2% to Rs 2,381 crore in the first quarter of FY12 as against Rs 2,538 crore in a year ago quarter.

Numbers were less than analysts' expectations; CNBC-TV18 poll saw net profit of Rs 199 crore and total income of Rs 2,803 crore.

Siemens said it had witnessed delays in financial closure of projects in the first quarter.