Share price of Siemens Limited gained around three per cent on Wednesday, May 12, a day after announcing its January-March quarter results for the financial year 2020-21. On Wednesday, Siemens opened on the BSE at Rs 2,002, touching an intra day high of Rs 2,143.20 and an intra day low of Rs 1,983.95, in the trading session so far. According to a statement filed by the firm to the BSE, Siemens' net profit on a consolidated basis in the March quarter of the fiscal year 2020-21 jumped 90 per cent to Rs 334.4 crore.
The innovation technology company reported a jump in net profit mainly due to higher revenues. The consolidated net profit stood at Rs 175.5 crore in the corresponding quarter of the previous fiscal year. The total income grew to Rs 3,540 crore in the fourth quarter of fiscal 2020-21, compared to Rs 2,722.1 crore in the year-ago period.
During the quarter, Siemens registered new orders from the continuing operations of Rs 3,309 crore, marking a 16.9 per cent increase year-on-year. As an automation, innovation technology firm, Siemens focuses on smart infrastructure for building and energy-efficient systems. Siemens reported profit before tax of Rs 433 crore, up 94.8 per cent over the corresponding period last year.
On the NSE, Siemens opened at Rs 2,036, registering an intra day high of Rs 2,143.50 and an intra day low of Rs 1,983.00, in the session so far. It was last trading 2.97 per cent higher at Rs 2,006.55 on the NSE.
Shares of Siemens Limited were last trading 2.92 per cent higher at Rs 2,005.90 on the BSE.