Siemens Q1 net at Rs 49 crore

BS 200 SCORECARD

Siemens posted net profit of Rs 49.01 crore for the first quarter ended December 2005 against Rs 31.37 crore for the corresponding quarter in the previous financial year. Total income was Rs 861 crore, up from Rs 513.19 crore in the year-ago period, the company informed the Bombay Stock Exchange.

Figures for the quarter are not comparable with the figures of the previous quarters as they include the financial results of Demag Delaval Industrial Turbomachninery, which was amalgamated with the company effective from April 1, 2005, pursuant to the order of Bombay High Court on September 30, 2005.

The company's board approved the acquisition of 50 per cent stake in Flender, a joint venture between Flender AG and Babcock Borsig India.

Last year, Siemens AG, Germany, had acquired the majority stake in Flender AG which is engaged in the business of manufacturing and marketing industrial gear boxes and related accessories.

A decision to acquire all assets and liabilities of Pune-based Elpro International's isolator division also got the board's approval. The purchase price is yet to be finalised.

A stock split in 1:5 ratio has been recommended by the board as well, where equity shares of Rs 10 each would be split in to five shares of Rs 2 each, subject to shareholders approval.