Siemens Limited, a leading provider of industry and infrastructure solutions, today reported a marginal growth of 2.2 per cent in its net profit at Rs 243.79 crore for the quarter ended December 31, 2010.
The company had posted a net profit of Rs 238.53 crore for the corresponding quarter last year.
Sales of the company rose by 35 per cent during the quarter at Rs 2,525 crore as compared to Rs 1,867 crore in October-December quarter of 2009, Siemens said in a statement.
It added that the Bombay High Court had approved the scheme of amalgamation of Siemens Healthcare Diagnostics Ltd. with the company, while sanction of the Ahmedabad High Court is expected shortly.
Commenting on the quarterly results, Siemens' Managing Director Armin Bruck said, "our performance in the first quarter has been as per expectations. Sales have increased significantly and were driven by a surge in the product business on account of increase in domestic demand and a reviving project business across all our businesses."
Siemens Ltd, which follows October to September as its financial year, also bagged orders worth Rs 3,987 crore during the quarter. This included an order from Torrent Power for a combined cycle power plant.
As on December 31, 2010, the company had an orderbook of Rs 15,132 crore, the statement said.
Siemens scrips closed today at Rs 727.50 a piece on the Bombay Stock Exchange, down 3.14 percent from its previous close.
