Siemens Q4 profit jumps 11-fold to Rs 2467cr on divestment gain

EBITDA (earnings before interest, tax, depreciation and amortisation) slipped 14.2 percent year-on-year to Rs 241.9 crore and margin contracted by 70 basis points to 7.8 percent in July-September quarter.

The company follows October-September as its financial year.

Siemens reported an exceptional gain of Rs 2,992 crore for the quarter ended September 2016 on account of sale of healthcare undertaking, against Rs 70.7 crore in same quarter last year.

The company completed the sale and transfer of its healthcare undertaking, as a going concern on a slump sale basis, for a sale consideration of Rs 3,050 crore, to Siemens Healthcare Private Limited, a subsidiary of Siemens AG.

Its healthcare undertaking contributed Rs 1,251.34 crore to the total income from operations up to June, 30, 2016.

In FY16, Siemens registered 19.4 percent higher new orders at Rs 12,064.02 crore compared with Rs 10,107.49 crore in FY15.

"The company delivered strong Order growth which will improve revenue growth in the years ahead. Major orders came from railways and transmission projects, though all our businesses performed well in the current market conditions," Sunil Mathur, MD & CEO said.

Profit in FY16 increased 145 percent to Rs 2,873.6 crore and revenue was up 2.6 percent at Rs 10,835.8 crore compared with FY15. Profit before exceptional items declined 1.7 percent to Rs 593.30 cror on yearly basis.

At 14:57 hours IST, the stock was quoting at Rs 1,052.60, down Rs 23.10, or 2.15 percent on the BSE.