Siemens posts 45% growth in net profit at Rs 831 crore in July-September

The board of the company approved a dividend of Rs 12 per share

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Siemens Ltd on November 26 reported a jump of 45.4 percent in consolidated net profit at Rs 830.7 crore in the July to September period over Rs 571.3 crore in the same duration of the previous financial year.

In the three-month period ending June 30, the tech and infra major had posted a net profit of Rs 577.7 crore, the Indian arm of the German technology group Siemens AG said in an exchange filing.

The company follows the October to September fiscal year.

For the full year, the net profit jumped 38.54 percent to Rs 2,718.1 crore, over Rs 1,961.9 crore in the year-ago period.

The firm’s revenue from operations rose 11.4 percent to Rs 6,373.6 crore in the reported quarter, compared to Rs 5,721 crore in the year-ago period, the statement said.

In the June quarter, Siemens had registered a revenue of Rs 5,146.8 crore.

The company said its new orders also increased by 37 percent to stand at Rs 6,164 crore in the July to September quarter.

Meanwhile, the board of the company approved a dividend of Rs 12 per share.

The company has also announced an additional capex of Rs 100 crore for the capacity expansion of the Power Transformer factory at Kalwa (announced in November 2023) for expanding the range of its product portfolio envisaged earlier, it said.

The capex for Power Transformer factory in Kalwa is now expected to be Rs 460 crore (Rs 360 crore announced in November 2023). The expansion is likely to be completed by Decemeber 2025

Sunil Mathur, managing director and chief executive officer, Siemens Limited, said, “With a pick-up in private sector capex and the Government’s ongoing focus on capex in infrastructure, we believe we are well positioned to meet the growing opportunities in the market.”

Mathur also said that the company is focused on completing the demerger of its energy business.

“We are currently focused on completing the announced demerger of the Energy business which will unlock value for our shareholders,” he said.

Siemens Ltd stock closed 1.42 percent lower on BSE at Rs 7,245.9 on November 26.