Siemens Posts Rs 114 Crore Profit for December Quarter

Siemens Posts Rs 114 Crore Profit for December Quarter

New Delhi: Engineering and automation major Siemens Ltd today reported a standalone net profit of Rs 114.02 crore for the quarter ended December 31, 2015. 

The company had reported a standalone net profit after tax of Rs 634.03 crore in the year-ago period, Siemens Ltd said in a BSE filing. 

Income from operations increased to Rs 2,314.24 crore, as against Rs 2,187.60 crore in the year-ago period. 

"Exceptional items for the quarter ended December 31, 2014 represents profit on sale of metals technologies business effective from the close of business hours on December 31, 2014 and the corresponding tax impact on the said transaction had been shown under tax expense. 

"Accordingly, current period figures are not strictly comparable with those of the previous period," it said. 

In a separate statement, the company said "for the quarter ended December 31, 2015, being the first quarter of financial year 2016, Siemens Ltd registered a 6 per cent higher revenues at Rs 2,265 crore compared to Rs 2,141 crore in Q1 2015." 

"In Q1 2015 an exceptional gain after taxes of Rs 528 crore from the sale of the metals technologies business was recorded," the statement added. 

Siemens Ltd Managing Director and Chief Executive Officer Sunil Mathur said: "Our order intake increased by 65 per cent with transmission and distribution and railways segments contributing significantly. 

"The company is on course to fulfil its strategy of profitable growth. While the government spending has begun in some segments, there has been limited capex spending from the private sector."

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