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Last Updated : Aug 08, 2019 10:08 AM IST | Source: Moneycontrol.com

Siemens rises 5% post Q3 show

Revenue of the company rose 4.1 percent to Rs 3,198.4 crore versus Rs 3,073 crore

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Shares of Siemens added 5 percent in the early trade on August 8 as company posted better numbers for the quarter ended June 2019.

The company's Q3FY20 profit jumped 21.4 percent to Rs 248.1 crore versus Rs 204.4 crore in the same quarter last fiscal.

Revenue of the company rose 4.1 percent to Rs 3,198.4 crore versus Rs 3,073 crore.

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The company's new orders stood at Rs 3,023, registering a 6.4 percent increase over the same quarter last year.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens said, “We have delivered very solid results in the third quarter although we see a slowdown in capex related ordering by our customers, both public and private, and across our market verticals."

"Liquidity is becoming a concern in the industry, with payments being delayed and inventory offtake slowing down. In this scenario, our focus continues on driving our short term and digitalization businesses with a clear focus on profitable growth and working capital management,” he added.

At 0952 hours, Siemens was quoting at Rs 1,154.25, up Rs 53.50, or 4.86 percent on the BSE.

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First Published on Aug 8, 2019 10:08 am
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