Siemens reports Rs 149 crore profit

Revenue from operations falls from Rs 3375 crore in same quarter last year to Rs 3,258 crore in Sept end 2013

Siemens Ltd reported a net profit of Rs149 crore for quarter ended September in comparison to Rs 55 crore loss during the same period last year. Revenue from operations fell from Rs 3,375 crore in same quarter last year to Rs 3258 crore in September end 2013.

The company's financial year runs from October-September and its full year profit fell from Rs 343 crore last year to Rs 194 crore in 2013. While sales were down 12 percent, the company reported seven percent increase in orders in the last fiscal.

In a statement, Armin Bruck, Managing Director, Siemens Ltd., said, "Overall, the results were in line with the challenging economic environment. While a rise of 35% in new orders for the fourth quarter over the immediately preceding quarter is encouraging, the growth of the Company is also dependent on the implementation of Government policies to promote infrastructure development within the country and create an environment conducive to investment in Capital Goods. During the year, the Company launched initiatives to optimize its cost position and productivity considering the slowdown in the economic environment."