Germany-based Siemens AG's arm Siemens India today posted over 50 per cent decline in its net profit for the quarter ended June 30, 2010 at Rs 156.12 crore.
The company had reported a net profit of Rs 337.01 crore in the corresponding quarter of the previous financial year, it said in a statement to the Bombay Stock Exchange (BSE), adding that it had received an exceptional income of Rs 210.61 crore in the same period last fiscal.
However, the net sales of the company rose to Rs 2,234.94 crore from Rs 1,909.60 crore in the same period last year.
The company's profit from the power transmission business reduced to Rs 112.58 crore by the end of the first quarter of the current fiscal from Rs 129.72 crore in the same period previous financial year.
While the company's revenue in the same segment increased to Rs 819.60 crore from Rs 587.86 crore in the quarter ended June 30, 2009, it said.
Shares of the company closed at Rs 721 a piece, down 0.56 per cent on the BSE.