Siemens Q2 net at Rs 117.8 cr

BS 200 SCORECARD

Siemens, manufacturer of power equipment, has reported sequential growth of 72 per cent in net profit at Rs 117.8 crore for the second quarter ended March 31, 2006 on the back of new orders and strong exports.

The company registered net profit of Rs 79.4 crore in the previous corresponding quarter.

The company's sales stood at Rs 1,115 crore, a 56 per cent rise over Rs 714.8 crore reported in the previous year.

"All our businesses have registered good quarterly growth and our export business has increased significantly. With healthy orders in the pipeline, our factories are running at optimum capacity," said Juergen Schubert, managing director, Siemens.

Power, automation and industrial solutions were the major drivers of volume. New orders for the second quarter jumped by 72 per cent to Rs 1,591.1 crore as compared with Rs 924.6 crore for the corresponding period in the previous year.

Demag Delaval Industrial Turbomachinery, a 100 per cent subsidiary of the company, and Siemens VDO Automotive were amalgamated with the company on November 17, 2005 and January 19, 2006.

Siemens operates in the core business segments of energy, industry and buildings, information technology, communication, transportation, healthcare and lighting.