Siemens today reported a net profit of Rs 49.02 crore for the first quarter ended December 31, 2005 as against Rs 31.37 crore in Q1FY05.According to a release issued by the company to the BSE today, total income increased to Rs 861.01 crore in Q1FY06 from Rs 513.20 crore in Q1FY05."Demag Delaval Industrial Turbomachninery (DDIT) was amalgamated with the company w.e.f April 1, 2005 as per the order of the Bombay High Court dated September 30, 2005. Consequently, the figures for the quarter ended December 31, 2005 include the financial results of DDIT. The figures for the corresponding previous quarter are therefore not strictly comparable," the release added.The board also approved a stock split in the ratio of 1:5 i.e one share of Rs 10 each would be split into five shares of Rs 2 each.The meeting also approved, in-principle, plans to acquire two new businesses."The first is the acquisition of 50% stake in Flender, a joint venture between Flender AG and Babcock Borsig India. Siemens AG, Germany had (in 2005) acquired the majority stake in Flender AG. The company is engaged in the business of manufacturing and marketing of industrial gear boxes and related accessories," the release added.The second acquisition would be all assets and liabilities of Elpro International's isolator division. "Elpro International is a Pune-based listed company. The purchase price is yet to be finalised," the release said.
