The industrial manufacturing company's standalone net profit (from continuing operations) rose 22.87% to Rs 392.2 crore in the quarter ended 30 September 2022 from Rs 319.2 crore recorded in the quarter ended 30 September 2021.
For the fourth quarter of financial year 2022 ended 30 September 2022, revenue from continuing operations stood at Rs 4,236.7 crore, registering a growth of 10.83% from Rs 3822.8 crore recorded in the corresponding quarter previous year.
Profit before tax (from continuing operations) jumped 23.15% year on year to Rs 524 crore in quarter ended 30 September 2022.
New orders from continuing operations stood at Rs 4,009 crore, registering a 25% increase over the same period last year. The company's order backlog from continuing operations stood at Rs 17,183 crore.
On full year basis, the company's net profit increased 19.7% to Rs 1249.7 crore on 18.33% rise in revenue from operations to Rs 14,588.1 crore in FY22 over FY21. For financial year 2022, Siemens reported an increase of 43% in new orders.
Sunil Mathur, managing director and chief executive officer, Siemens, said, The company's strong performance showed the resilience of all our businesses which performed remarkably well. We continue to see an increased pace of tendering for capex by both public and private sectors with increasing interest in digital and sustainability solutions.
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Meanwhile, the company's board recommended a dividend of Rs 10 per share. The said dividend, if declared at the ensuing Annual General Meeting (AGM) of the company, would be paid from Friday, 17 February 2023.
The firm said that Johannes Apitzsch has tendered his resignation as director of the company, with effect from 1 January 2023, due to other commitments.
The company's board, based on the recommendation of the Nomination and Remuneration Committee, recommends the appointment of Deepak S. Parekh as a director (non-executive non-independent; liable to retire by rotation) with effect from 30 January 2023.
Parekh's second term as an independent director of the company is upto 29 January 2023.
Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.
Shares of Siemens slipped 2.61% to Rs 2,729.20 on the BSE.
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