 "Siemens hits record high on strong June quarter results")
Shares of Siemens have gained 4% to Rs 1,558, also their record high on the BSE, after the company reported a 13-fold jump in standalone net profit at Rs 168 crore for the quarter ended June 30, 2015 (Q3), due to cost rationalisation process and strong performance by its power and gas segement.
The automation and solutions provider had posted a profit of Rs 13 crore in the same quarter last year.
During the quarter, the company’s power and gas segment profit before interest and tax (PBIT) was Rs 34.62 crore against a loss of Rs 114 crore in the previous year's corresponding quarter.
Meanwhile, the company's sales growth was muted at Rs 2,322 crore compared to Rs 2,319 crore.
The company said it registered new orders of Rs 2,234 crore in June quarter compared to 2,732 crore in the same period last year.
“Order inflows in our energy business have not yet picked up. Our continued focus on operational excellence is reflected in our improved profitability, said Sunil Mathur, managing director and chief executive officer of Siemens.
At 09:47 AM, the stock was up 3.8% at Rs 1,552 on the BSE. A combined 487,922 shares changed hands on the counter on the BSE and NSE so far.
The automation and solutions provider had posted a profit of Rs 13 crore in the same quarter last year.
During the quarter, the company’s power and gas segment profit before interest and tax (PBIT) was Rs 34.62 crore against a loss of Rs 114 crore in the previous year's corresponding quarter.
Meanwhile, the company's sales growth was muted at Rs 2,322 crore compared to Rs 2,319 crore.
The company said it registered new orders of Rs 2,234 crore in June quarter compared to 2,732 crore in the same period last year.
“Order inflows in our energy business have not yet picked up. Our continued focus on operational excellence is reflected in our improved profitability, said Sunil Mathur, managing director and chief executive officer of Siemens.
At 09:47 AM, the stock was up 3.8% at Rs 1,552 on the BSE. A combined 487,922 shares changed hands on the counter on the BSE and NSE so far.